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| Jaclyn Blair
SPRING
HILL, FL -- Marcus & Millichap (NYSE:MMI), a leading commercial real estate
investment services firm with offices throughout the United States and Canada,
accounced the sale of Spring Hill Medical Mall, a 29,917-SF office property in
Spring Hill, FL, according to Ari Ravi, regional manager of the firm's Tampa,
FL office. The asset sold for $4,475,000.
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Jaclyn
Blair, an investment
specialist in Marcus & Millichap’s Tampa office, had the exclusive
listing to market the property on behalf of the seller, a developer.
The
buyer, a limited liability company, was secured and represented by L.J.
Tsunis and Krone Weidler , investment specialists
in Marcus & Millichap’s Tampa office.
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| Krone Weidler |
“Our
marketing efforts created a competitive bidding environment ultimately
generating eight offers and closed above list price,” says Ms. Blair. "The
buyer was extremely attracted to the quality of the asset and it augments their
existing commercial real estate portfolio," says Mr. Tsunis.
Spring
Hill Medical Mall is a 30,000-square-foot
single-story medical office located in the Tampa Bay MSA and has a solid mix of
national and regional tenants with four to six-year lease terms remaining.
The property is well located at the main entrance to the
124-bed regional hospital which is directly behind the property, and the
property is surrounded by other medical and senior living facilities. There is
very little competing second-generation medical space in the immediate market.
All occupied suites have recently undergone improvements such as upgraded
flooring, paint and other additions.
The Spring Hill market has a dense population with a large retirement presence and is experiencing growth. The immediate area around the property is undergoing roadway improvements with new commercial developments either underway or recently completed.
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| L.J. Tsunis |
The Spring Hill market has a dense population with a large retirement presence and is experiencing growth. The immediate area around the property is undergoing roadway improvements with new commercial developments either underway or recently completed.
Spring
Hill Medical Mall is located at 120 Medical Boulevard in Spring Hill, Florida.
For
more information, please contact:
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