Tamarac Medical Office Trades in $4M Deal
- Jun 19, 2017
CRE Florida Partners arranged the sale of a medical office building in Tamarac, Fla. The approximately 42,481-square foot asset changed hands in a $3.8 million deal on a 6.9 percent capitalization rate.
Located at 8333 W. McNab Road, the multi-tenant property offers office solutions for both medical and professional uses. According to public records, Pamata Inc. sold the property to Laundry Service LLC in May, while City National Bank of Florida provided $2.9 million in acquisition financing to facilitate the transaction.
The advisory team led by senior managing partners Michael Rauch and Tom Robertson represented the seller in the transaction, which has owned and operated the building since about 2005. Constructed in 1976, the property features on-site parking with 209 available spaces.
“This medical/office building is well located for tenants, given its immediate access the Sawgrass Expressway, I-95, and Florida’s Turnpike, as well as the asset’s close proximity to University Hospital,” said Robertson in prepared remarks. “Well-located medical office properties with strong occupancy rates continue to perform above market expectations,” added Rauch.
Image via Google Street View