Vice President Christian Vaughan of Northmarq’s National Healthcare Group recently brokered the $13.5 million sale leaseback of two outpatient primary care properties in Noblesville, Indiana. The seller was Riverview Hospital, and the buyer was Four Corners Property Trust.

The portfolio totals 32,744 square feet and includes Riverview Health’s Noble Creek (205 Noble Creek Drive) and Westfield (865 Westfield Road) locations. The tenant operates on long-term, triple net leases, and the transaction was priced at a 7.3% cap rate.

“This was a great seller and buyer match to transact on two essential outpatient facilities, via a long-term sale-leaseback agreement,” said Vaughan. “Strategically located near the hospital, the sites are essential to the tenant, delivering critical care to the local community in which demand for services is rapidly growing. The long-term favorable outlook and critical nature of these medical outpatient buildings present a strong investment for the buyer.”

The JLL team was led by Managing Director Mark Erland and Director Kevin Barron. “3rd and Grand is an exceptionally well-designed project that will benefit from its transit-oriented location with city incentives, Kansas City’s booming market fundamentals and its seasoned development team,” said Barron.

Upon completion in 2026, 3rd and Grand will be a mid-rise development with five stories above a one-story garage. It will feature studio, one- and two-bedroom layouts with amenities, including a fitness center, a lounge, and a state-of-the-art pool.

“3rd and Grand represents a visionary approach to urban living, combining luxurious amenities with a vibrant, transit-oriented location in the heart of Kansas City,” said Mike McKeen, Principal at EPC Real Estate Group and Bill Crandall, Principal at Copaken Brooks, in a joint statement.

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