Orlando MOB Changes Hands
- Nov 14, 2017
Royal Oaks Medical Plaza LLC has acquired a 15,782-square-foot, single-story, multi-tenant medical office building. Located at 2105 Hartwood Marsh Road in Clermont, Fla., the property is 73.5 percent occupied. Having long-term leasing tenants, Royal Oaks Plaza— situated on a 1,6-acre site—features two vacant spaces comprising more than 4,180 square feet.
Transwestern Brokers arranged this $2 million transaction. The company’s Managing Director John Bell led and marketed the sale. “Royal Oaks Plaza received multiple bids from established investors, new-to-market buyers and both residential and commercial brokers,” said Bell in prepared remarks. “Clermont is one of the fastest-growing communities in Orlando, so it was only natural that the response from investors resulted in a competitive bidding process, with all eager to acquire an asset housing dominant small medical providers.”
According to a recent report by Real Capital Analytics, year-to-date sale transaction volume in Orlando’s office market from private buyers reached 37 percent, up by 26 percent from the previous year.
Highway 27 and Hartwood Marsh Road are both easily accessible.
Image courtesy of Transwestern