Overland Park Medical Building Goes for $9 Million

Foxhill Medical Center, a 52-thousand square foot, 3-story medical office building at 4601 West 109th Street in Overland Park, has been purchased for $9 million by Everest Medical Core Properties—an institutional real estate manager focused high-quality medical office properties throughout the United States.

According to Everest, the building is an attractive investment due to:

  • Easy access to I-435, the region’s major thoroughfare with over 140,000 cars per day.
  • ­97% occupancy with the majority of current leases featuring annual rent bumps and personal guarantees
  • Average remaining lease term ­4.5 years (weighted)
  • An attractive submarket with only 2% vacancy and strong absorption.

Foxhill Medical Center—renovated in 1998 with major exterior enhancements completed this year— features both medical and dental suites.