Former St. Elizabeth Hospital property for sale at $63M

Contributed

Combined ShapeCaption
Contributed

Elizabeth Place, a nine-building medical center off Edwin C. Moses Boulevard, is listed for sale at $63 million by Ed Matevosian, first vice president of CBRE.

RELATED: Medical office improvements could bring 200 jobs

The campus is owned and managed by Elizabeth Place Holdings LLC, a group of California investors. The property owner is seeking to sell the campus for significantly more than the $12.3 million the campus sold for in 2013.

The campus near the Interstate 75 and U.S. 35 interchange is home to tenants like the physician-owned Medical Center at Elizabeth Place and St. E’s Urgent Care.

CBRE, a national real estate firm, states in its listing that the 27 acre investment property with 833,886 square feet of rentable space “offers the investor significant upside potential due to a synergistic mix of supporting uses, built-in annual increases, and an economic market advantage over its competitors.”

In April, the city approved $250,000 for the Elizabeth Place property owner for a $1.75 million renovation and expansion project.

RELATED: Taylor Communications’ Dayton campus is for sale

The complex was originally the home of St. Elizabeth Hospital, later called the Franciscan Medical Center. It was Dayton’s oldest public hospital when it closed in 2000, resulting in the lay off of about 1,500 workers.

Two years later, the complex was purchased and transformed into office space, primarily aimed at the health care industry.

About the Author