ELYRIA — A medical office building on Chestnut Commons Drive has been sold to a Toledo company for more than $38.8 million as part of a $1.25 billion sale of medical office buildings in 15 states.
The building at 303 Chestnut Commons Drive was among 53 properties listed as sold in documents provided by the Lorain County Auditor’s Office regarding Tuesday’s sale. The building currently houses the Cleveland Clinic Elyria Family Health Center.
The buyer was EPC Sparti LLC of Toledo, which purchased the Chestnut Commons property from CHP Chestnut Commons OH MOB Owner, a limited liability corporation registered in Columbus, according to auditor’s office and Ohio secretary of state records.
A note in the documents said the purchase was “part of a portfolio purchase of medical office buildings at various locations.” The property was last sold in August 2013 for $20.2 million and has changed hands four times since 2006, according to the Lorain County Auditor’s Office.
Another Ohio property involved in the sale is in Cincinnati, while the remaining 51 are in Arizona, California, Florida, Georgia, Indiana, Maryland, Massachusetts, Missouri, Michigan, North Carolina, Nevada, Oregon, Tennessee and Texas.