Colliers International announces the sale of a 140,205 square foot medical office building in Dover, Delaware

Investment Sale.

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.

 

Bob Parsley, SIOR and Walker Ryan, both principals of the Colliers International Houston office, represented the seller, Eden Hill LLC, in the transaction.

 

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.


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Bob Parsley

Chairman & Principal | Houston

Houston

Mr. Parsley has been involved in and responsible for all phases of commercial real estate brokerage activity over the past 37 years. A native Houstonian, he returned to Houston after graduating from law school in 1979 to serve as an attorney with Bracewell & Patterson, specializing in corporate law. In 1983, he joined Colliers International, where he is one of the company’s principal shareholders. He served as President and CEO of Colliers’ Houston office prior to assuming the position of Co-Chairman in 2004 and Chairman in 2020. He brings a wide range of real estate experience, along with an understanding of the legal issues involved in real estate transactions. He has represented a broad range of corporate clients, both public and private, in office and industrial sales and office tenant rep lease transactions in Houston and throughout the USA. Bob currently serves as a member of Colliers’ Tenant Advisory Council, Healthcare Services Group and Law Firm Services Group. Bob has been one of the top two producers in the Colliers Houston office for the past fifteen years. He has also been a Colliers Everest Award recipient since the inception of the award, which is granted to the top 10% of producers for Colliers International in North America. Bob was recognized as a Connect Media CRE 2020 Top Broker with over $403 million of deals executed in 2019, and in 2018 he was recognized as the #2 ranked Heavy Hitter for office tenant representation in the greater Houston area with over $200 million in gross dollar value of deals executed in 2017. The SIOR designation that he carries signifies the highest level of accountability and ethical standards in commercial real estate.

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Walker Ryan

Principal | Houston

Houston

Mr. Ryan has been involved in the commercial real estate business for 17 years, 13 years of which he has spent at Colliers International. 

Walker joined Colliers International in the Office Services Group in 2006, specializing in tenant representation and owner representation. Walker has been a top producer at the Colliers Houston office since 2013.

Prior to joining Colliers International, Mr. Ryan began his career at The Friedkin companies as a Financial Analyst, and in 2001 made a transition to Lewis Realty Advisors as an appraiser.  Following that, Walker accepted a position with Avail Consulting (formerly Arthur Andersen’s valuation group) in their Real Estate division.  In 2005, Walker made the move to U.S. Trust, as a Vice President in the Business Development division.

Walker’s abilities to determine value, to run and understand financial models and to work well with clients, coupled with his market knowledge, and working experience with the leading commercial brokerage firms, building owners, REITS, developers, property management companies and financial institutions make him an asset to all of his clients in their real estate decision-making process.

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