CBRE Arranges Sale of D.C. Area MOB Anchored by the University of Maryland Medical System

CBRE facilitated the sale of the University of Maryland Laurel Health & Wellness MOB, a 55,598-square-foot medical outpatient building (MOB) located at 7140 Contee Road, Laurel, Maryland in the Washington D.C. MSA to UDLR Partners.

Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Tim Connolly of CBRE’s Bethesda, Maryland Leasing team to act as the exclusive advisors to the seller, Catalyst Healthcare Real Estate.

Delivered in the spring of 2024, the state-of-the-art Class A facility is leased on a triple net basis with long-term WALT. The property is located on the campus of the University of Maryland Laurel Medical Center, both constructed on a parallel timeline marking the completion of Phase 1 of a multi-phase plan to create health and wellness destination campus. The property is anchored by University of Maryland Medical System (Moody’s: A2) related entities and the University of Maryland Faculty Physicians.

“This is a brand new, Class A, on-campus MOB that is well below today’s replacement cost due to well managed inflationary cost containment during development,” said Knott, CBRE’s Executive Vice President of the U.S. Healthcare Capital Markets practice. “This is the best outpatient medical location in the market with fantastic access to I-95 providing a great patient experience. This investor sought to acquire a high-quality medical facility and has the ability to develop or expand the relationship with the University of Maryland Medical System or other noteworthy providers in the market.”

The University of Maryland Laurel Health & Wellness MOB is strategically located midway between Washington D.C. and Baltimore and is the hub of four major counties, offering access to a desirable patient population. Within a 5-mile radius of the campus, there is access to a population of over 204,200. The I-95 adjacent location provides immediate access to the broader patient base and offers excellent visibility to over 205,000 vehicles per day.

The purchaser, UDLR, is a joint venture between GI Partners and former executives from Healthcare Trust of America to invest in MOBs across the United States.