Minneapolis (June 9, 2025) – Steve Brown, principal – Forte, joined CBRE’s U.S. Healthcare Capital Markets Leader Chris Bodnar to market Arbor Lakes Medical Center and Grove Medical, both well-located medical office properties with strong tenant bases in Maple Grove, MN. Both properties were sold last month.

Arbor Lakes Medical, marketed on behalf of Olympus Ventures, was acquired by Remedy Medical Properties for $24.8 million. The 89,000 sq. ft. property, 12000 Elm Creek Blvd. N., was built in 2000 and is primarily occupied by M Health Fairview (Rehabilitation Services), Twin Cities Pain Clinic, and Suburban Radiologic Consultants. See CBRE’s release about this sale: Arbor Lakes Medical Building in Minneapolis-St. Paul MSA.

Grove Medical, originally developed by Ryan Companies, was sold by Artemis Real Estate Partners to Invesco Ltd. for $15.95 million. The 40,765 sq. ft. Class A property is 100% occupied, with Gillette Children’s Specialty Healthcare and Obstetrics, Gynecology & Infertility (OGI.) The property, located at 9550 Upland Lane N., was built in 2007 by Ryan Companies, and is adjacent to Maple Grove Hospital and the Minnesota Health Village.

“It’s a privilege to collaborate with Chris Bodnar and the CBRE team as their local market expert,” said Steve Brown. “They are the clear national leader in healthcare capital markets, and I’m extremely proud to contribute to their efforts here locally.”

Brown, principal with Forte Real Estate Partners, has been a real estate advisor for nearly 40 years, solely focusing on healthcare assets in the Twin Cities. He also collaborated with the CBRE National Healthcare team on previous sales due to his local market knowledge, most recently on the sale of West Health in Plymouth, MN.