Stan Johnson Company Arranges Sale of Multi-Tenant Medical Office Building in Tampa, Florida for $8.6 Million
New York, New York, August 8, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the fee simple sale of 4531 South Dale Mabry Highway, a multi-tenant healthcare building in Tampa, Florida. The property is anchored by Tampa Sports Academy, which occupies approximately half of the 25,634-square-foot building. Three additional tenants on triple net leases occupy the remaining half.
The property was sold by Rubin Real Estate Advisors LLC, a group of individual investors based in the local Tampa market. The seller was represented by James Ullrich, Jeff Matulis, and Michael J. Macchia of Stan Johnson Company.
“The purchaser was drawn to the strong real estate and prime location,” said Ullrich, Director in Stan Johnson Company’s New York office. “South Dale Mabry serves as ‘main and main’ for the affluent South Tampa neighborhood, and the surrounding development is incredible, including the Gandy Bridge overpass project and the dense waterfront housing development in the Westshore Marina District. The property is one of the deepest lots on South Dale Mabry and should serve the buyer well for the years to come.”
The property was purchased in a 1031 exchange by a Florida-based developer for $8.6 million. The buyer was represented by Stan Johnson Company’s Houston office, and the sale closed at a 7.44 percent cap rate on June 5, 2019.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.