Saturday, March 17, 2018

Marcus & Millichap Arranges $4.475 Million Sale of Spring Hill Medical Mall in Spring Hill, FL


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.
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.

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.


L.J. Tsunis
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. 
Spring Hill Medical Mall is located at 120 Medical Boulevard in Spring Hill, Florida.
For more information, please contact:


Marcus & Millichap
4030 W. Boy Scout Boulevard
Suite 850
Tampa, FL 33607
(813) 387-4743 direct
(813) 387-4700 main
(813) 387-4710 fax
rachel.jeanpierre@marcusmillichap.com


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Marcus & Millichap Real Estate Investment Services


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