Ohio medical building sells for $40M

A medical office building in Cincinnati has sold for $40 million, the region’s most expensive publicly disclosed office transaction of the year, according to an Aug. 12 report from the Cincinnati Business Courier.

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The building is fully occupied by the Cincinnati Eye Institute, whose parent company was acquired for $600 million by St. Louis-based EyeCare Partners in 2021.

The 113,723-square-foot building houses an outpatient surgical center and medical offices and sold for more than $351 per square foot. The building last sold in 2005 for $9.7 million.

Varde Partners, an investment firm based in Minneapolis, purchased the building from Milwaukee-based Physicians Realty Trust, a real estate investment trust.

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