Westport Center for Health sold for $18.75M

The Westport Center for Health has been sold for $18.75 million to Healthcare Trust of America Inc., a real estate investment trust based in Scottsdale, Arizona.

The 38,000-square-foot complex at 323-329 Riverside Ave. in Westport along the Saugatuck River, was originally a five-building office campus that was transitioned in 2015 into a four-building medical office complex, with the fifth building demolished to accommodate additional parking.

Newmark Knight Frank represented the seller, The Davis Cos., in the transaction. The property is anchored by Yale New Haven Health”™s Northeast Medical Group, which moved in last June. Other tenants include Coastal Orthopedics, Westport Dermatology & Laser Center, Westport Dental Associates, Village Pediatrics, Professional Physical Therapy and Women”™s Health Connecticut.