CBRE Arranges New Lease at Skilled Nursing Facility in Kansas

CHERRYVALE, Kan. — CBRE has arranged the lease of a new operator at Cherryvale Nursing & Rehabilitation Center, a skilled nursing and healthcare facility in Cherryvale.

Cornerstone Healthcare will now operate the 17,314-square-foot property, which sits on 2.8 acres. The property was 57 percent at the time of sale, though the skilled nursing portion’s occupancy was higher at 76 percent.

Daniel Morris with CBRE in Oklahoma City handled the transaction on behalf of the undisclosed landlord.

“Cornerstone Health has other operations within the Kansas market, and they are growing quickly,” says Morris. “They plan to reposition the facility operationally and take advantage of some operational economies of scale.”