Duke Realty sells medical office business for $2.8b

Duke Realty Corp. has sold its medical office building assets to Healthcare Trust of America for $2.8 billion.

The portfolio totals 6.6 million square feet of space spread across 71 buildings that are in operation and five that are under construction. It also includes two buildings owned in joint ventures and 16.5 acres of land.

The sale is part of Duke Realty Corp. move to focus exclusively on industrial properties.

The deal is expected to close in stages through the second and third quarters of 2017.