Houlihan Lawrence Commercial, a division of Houlihan Lawrence, the leading real estate firm serving New York City’s northern suburbs, has announced the recent sale of a pediatric dentistry and orthodontics medical office building portfolio for $4.35 million.
The portfolio consists of two buildings located at 111 East Main Street, Mount Kisco and 22 North Division Street, Peekskill, The two buildings total 12,600 square feet with total property of 42, 215 square feet.
Both properties have long-term guaranteed Triple Net Leases (NNN) with a private equity dental practice, wholly owned by Planet Smile Partners, a leading dental service provider in the Northeast. The properties have had significant buildout and building-wide improvements, more than $2 million dollars. Additionally, the buildings offer state-of-the-art dental equipment and modernized patient amenities.
The seller was a dentist who sold his practice to Planet Smile Partners. The purchaser was a local investor. Garry Klein, Regional Manager of Houlihan Lawrence Commercial, represented the buyer and seller.
111 East Main Street is a 9,000 square-foot freestanding three-story fully-renovated and modernized medical office building with 100 feet of frontage in a prime downtown location in the Village of Moun Kisco’s shopping and entertainment district.
22 North Division Street is a 3,600 sf two-story renovated medical building located in the heart of Downtown Peekskill. It is half a block off Main Street in the shopping and dining arts district, The Peekskill Metro-North train station is approximately one mile away.
Houlihan Lawrence Commercial, a full-service division, specializes in Investment Opportunities; Office, Industrial and Retail Sales and Leasing; Land Acquisition and Development; Municipal Approval Consultation. With local expertise in the markets north of New York City, the Commercial Division has a database of buyers and sellers throughout the country to effectively market commercial properties and opportunities on a national level. For more information, please contact Mike Rackenberg, mrackenberg@houlihanlawrence.com or 973-609-2105.
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