Colliers International Houston is pleased to announce the sale of Eden Hill Medical Center, located at 200 Banning Street in Dover, Delaware. Consisting of approximately 140,205 SF, Eden Hill Medical Center was constructed in 2008 and is a 3-story, state-of-the-art medical office building occupied by a wide range of industry leading physician specialists and local health systems. Tenants include a fully accredited surgery center with six operating rooms, an OBGYN center and a urology center. Nearly 90% of the current tenants have been original occupants since the building's completion. Nearby Bayhealth Hospital has a long-term commitment as a tenant in Eden Hill Medical Center.
Eden Hill Medical Center is centrally located and surrounded by multiple major markets including Wilmington, Philadelphia, Baltimore and Washington, D.C.
The seller of the property, Eden Hill Medical Center, LLC was formed by some of the physician group tenants that originally developed the building in 2008 as part of a 23-acre master planned site that is owned by an affiliated entity. To date, they have also developed on the site a rehabilitation/skilled nursing facility.
MedProperties Realty Advisors, LLC formed a joint venture (JV) with Capital Security Advisors and Physicians Realty Trust (NYSE: DOC) to acquire the property. This transaction represents the first acquisition in Delaware for MedProperties Realty Advisors, which now has investments in 24 states.