Sale is a sign of the continued high level of demand for medical office buildings
Tampa, Fla. (September 23, 2014) – Healthcare Realty, a Nashville-based real estate investment trust that owns, manages and develops healthcare properties, has purchased 17 Davis a Medical Office Building in Tampa for $8 million.
The Class A, 48,200-square-foot medical office building is 93 percent occupied with several specialties and physicians from USF Health. The building, 17 Davis, is located next to Tampa General Hospital on Davis Islands.
Juan Vega, Jr., SIOR, CCIM, and Jim Allen, Managing Directors of the Healthcare and Office Services Group with Colliers International Tampa Bay represented the buyer. M West Holdings was the seller in the transaction.
Colliers International Tampa Bay’s medical office team played a key role in the off-market transaction from start to finish. After the Colliers team proactively identified 17 Davis Medical Building as a prime sale opportunity they presented a financial case for a sale to the owner. The Colliers team identified and short listed potential buyers and presented an offer to M West Holdings, leading to the sale.
As an owner, Healthcare Realty typically provides property management services to its portfolio of approximately 9.7 million square feet of medical office around the country.
“The building was an excellent opportunity for Healthcare Realty to grow its portfolio in Florida by purchasing a property adjacent to Tampa General Hospital,” said Vega. “This property is in an area that would prove to be difficult to build another major medical office building, since the land surrounding Tampa General Hospital is scarce and typically trades at a premium.”
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