SANTA ANA, CA/PRNewswire/ -- Grubb & Ellis Realty Investors, LLC has acquired Jacksonville Medical Plaza (photo above) in Jacksonville, Fla. on behalf of tenant-in-common investors.
Jacksonville Medical Plaza consists of two multi-tenant medical office buildings comprised of approximately 132,000 square feet situated on more than 11 acres. Built in 1974 and reno
vated in 1995, the property is adjacent to Memorial Hospital Jacksonville, one of the city's major hospitals, and offers tenants and visitors ample parking with nearly 600 spaces, resulting in a parking ratio of 4.5 spaces per 1,000 square feet.
Jacksonville Medical Plaza consists of two multi-tenant medical office buildings comprised of approximately 132,000 square feet situated on more than 11 acres. Built in 1974 and reno
vated in 1995, the property is adjacent to Memorial Hospital Jacksonville, one of the city's major hospitals, and offers tenants and visitors ample parking with nearly 600 spaces, resulting in a parking ratio of 4.5 spaces per 1,000 square feet.Jacksonville Medical Plaza is currently 97 percent leased to multiple tenants, including Memorial Hospital Jacksonville and Brooks Rehabilitation Hospital.
"This asset's proximity to Memorial Hospital Jacksonville and stable rent roll make it an ideal investment for tenant-in-common investors," explained Grubb & Ellis Realty Investor
s President and Chief Investment Officer Jeff Hanson. (photo at right) "Additionally, we believe quality medical office space is generally an attractive option for real estate investment, considering the changing demographics of the U.S. population and the resulting growth in demand for healthcare."
s President and Chief Investment Officer Jeff Hanson. (photo at right) "Additionally, we believe quality medical office space is generally an attractive option for real estate investment, considering the changing demographics of the U.S. population and the resulting growth in demand for healthcare."Memorial Hospital Jacksonville is a 353-bed acute care hospital owned by Hospital Corporation of America. The hospital currently employs a staff of more than 1,900 and approximately 700 physicians in 15 medical specialties.Jacksonville is the largest city in the state of Florida, and the largest city in terms of land area in the contiguous United States.
The city is the state's leading transportation and distribution hub. The strength of Jacksonville's economy lies in its broad diversification and is balanced among distribution, financial services, biomedical technology, cons
umer goods and other industries.
umer goods and other industries.First Call Analyst: FCMN Contact: Source: Grubb & Ellis Realty Investors, LLC
CONTACT:
Julia McCartney of Grubb & Ellis Realty Investors, LLC,
+1-714-667-8252, ext. 230,
Web site: http://www.grubb-ellis.com/
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