Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a three-property portfolio of medical office properties leased to VillageMD. The combined portfolio, totaling 26,482-square-feet, sold for $5.7 million dollars.

“The sale of these properties is a tremendous achievement for our clients, a regional primary care group that spent years building a successful practice before selling the business to VillageMD,” said Christopher Biuso, vice president investments in Marcus & Millichap’s Orlando office. “From the outset, we were able to advise them through lease negotiations [to help maximize the value] before exposing the assets to a wide array of qualified net lease medical investors. Ultimately, the best buyer proved to be an institutional group based out of Tennessee, who closed at 100% of the agreed contract price.” 

Biuso, Scott Gould and Rory Shelby, had the exclusive listing to market the property on behalf of the seller and were also able to procure the buyer. John Leonard, Marcus & Millichap's broker of record in Georgia, assisted in closing this transaction.

The properties are in McDonough, Locust Grove, and Monticello, Georgia. Each of the properties provides a full range of family practice services, including on-site imaging and referral laboratory services.

Founded in 2013, VillageMD is a major provider of value-based primary care services throughout the U.S. Since acquiring VillageMD in 2021, Walgreens Boots Alliance (WBA) has continued to expand doctor-staffed clinics at a record-breaking rate, in some cases, opening a new location about every three days. More than half of Walgreens’ VillageMD co-branded clinics will be in underserved areas. The coordinated care model pairs tech-enabled platforms with physician-led care teams to optimize patient care management.