Marcus & Millichap announced Monday the sale of a two-property dental office portfolio in central Pennsylvania for $2.6 million, according to Sean Beuche, regional manager and broker of record.
Traute Ringwald, of Bles Properties LLC, purchased 5,008-square-foot Williams Valley Dental, Williamstown, for $1.4 million and 3,514-square-foot Jonestown Dental for $1.2 million.
Craig Dunkle and Mher Vartanian, investment specialists with Marcus & Millichap’s Philadelphia office, represented the seller, Krupal Desai, of Indiju Investors LLC. Stephen Filippo, of Marcus & Millichap Capital Corp., arranged the buyer’s financing.
“The Williamstown and Jonestown dental offices were part of a larger four-property portfolio, three of which we sold at either list price or within 3% of it,” Dunkle said in a release. “The last property is currently under contract at its list price. The portfolio sale was completed through an absolute triple-net, 15-year sale lease-back structure, which was extremely desirable to the 1031 exchange buyers that were initially interested in pursuing the assets.”
Paula Wolf is a freelance writer.