North Florida MOB Changes Hands in $18M Deal
- May 20, 2020
Onicx has sold a 46,483-square-foot medical office building in Gainesville, Fla., for $18.2 million. A group of physicians within the Florida Cancer Specialists & Research Institute, currently tenants at the property, purchased the Class A asset.
Onicx CEO Dhvanit Patel and Vice President Arjun Choudhary negotiated on behalf of the seller, while the buyer was self-represented.
Onicx developed the two-story building at 6500 W. Newberry Road in 2016. The Class A property is part of the HCA North Florida Regional Medical Center’s campus, a full-service medical and surgical acute care center. The medical campus is roughly 5 miles west of downtown Gainesville near Interstate 75.
The transaction is one of an increased number of medical office assets changing hands of late. According to a Marcus & Millichap special report on medical office buildings, the sector’s strong fundamentals will ensure its quick recovery after the COVID-19 pandemic has passed.