Marcus & Millichap sells surgery center for record price

Commercial real estate investment services firm Marcus & Millichap has sold the Outpatient Surgery Center of Hilton Head for a record $8 million.


The sale price -- $405.49 per square foot -- was a record for a Hilton Head medical office building.    Contributed photo

Commercial real estate investment services firm Marcus & Millichap has sold the Outpatient Surgery Center of Hilton Head for a record $8 million.

The 19,729-square-foot multi-specialty surgery center was built in 2004. It contains three operating rooms, two procedure rooms and two endoscopy suites. The sale price -- $405.49 per square foot -- was a record for a Hilton Head medical office building. 

Marcus & Millichap arranged the sale of the building for the physician owners. Investment advisers in the Atlanta and Charleston offices brought several offers to the owners. It was sold it to a private investor, who was also located by Marcus & Millichap professionals. A long-term lease is in place.

Marcus & Millichap was founded in 1971. The firm, a specialist in commercial real estate development sales, closed more than 8,700 sales in 2015. It employs more than 1,600 investment sales and financing professionals in 80 offices across the U.S. and Canada.

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