HARTFORD, CT— Matthews™, a commercial real estate investment services and technology firm, completed the sale of ProHealth Physicians of Bristol, located at 1251 Farmington Ave, Bristol, Connecticut. Matthews™ Senior Vice President & Senior Directors Rahul Chhajed, Michael Moreno, and Vice President & Director Tyler Swade represented the buyer in the $19,911,000 transaction.

 

Constructed in 2025 and operated by UnitedHealthcare (Fitch: A), one of the nation’s largest healthcare providers, the facility features 45 examination rooms equipped for primary care, imaging, and phlebotomy. Positioned within a larger master development alongside adjacent retail properties, the 26,000-square-foot property offers high-visibility access, including 28 EV charging stations, to support consistent patient traffic.

 

“This property transaction solidifies that high-quality credit-rated assets continue to command competitive pricing. In the healthcare space today, new construction assets are scarce. When you couple that with substantial lease credit and premier tenancy, ‘core money’ is at the most aggressive levels we’ve seen over the past 24 months,” said Rahul Chhajed, Senior Vice President & Senior Director at Matthews™.

 

The Class A Medical Outpatient Building (MOB) featured a brand new 12-year NNN lease with robust annual increases. The buyer was a private retail-oriented fund that was exclusively in the market for investment-grade credit-rated assets, and this asset fit perfectly within their portfolio of high-caliber real estate. The Seller was the developer of the building and was able to secure a record-breaking cap rate for this core asset in the upper 5-cap region.

 

“The location and design of this facility were major drivers of investor interest,” said Michael Moreno, Senior Vice President & Senior Director at Matthews™. “Being part of a master-planned development with strong retail synergy, modern infrastructure, and high-visibility access made this asset especially compelling. Combined with UnitedHealthcare’s tenancy and a brand-new build, it represents the type of institutional-quality medical real estate investors are prioritizing today.”

 

For more information, please contact Rahul Chhajed, Michael Moreno, and Tyler Swade or visit www.matthews.com.

 

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.