$13.26M Medical Office Building Trades In Jacksonville
Jacksonville – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Emerson Medical Plaza Building 2, a 34,000-square foot medical office building in Jacksonville. The sales price of $13,260,000 equates to $390 per rentable square foot.
John Smelter, a first vice president investments and senior director of the Healthcare Real Estate Group in the San Diego office of Marcus & Millichap, represented the seller, Emerson MOB I LLC. Emerson MOB II LLC is a partnership between ABR Chesapeake III, a value-added real estate investment fund sponsored by Baltimore- based Alex Brown Realty Inc. and Health America Realty Group LLC.
Kirk Felici, a vice president in Marcus & Millichap’s Miami office, also provided representation. The property was acquired by HSRE – Emerson LLC.
“Emerson Medical Plaza Building 2 is the newest building located at the Emerson Medical Plaza,” says Smelter. “Emerson Medical Plaza is an outpatient satellite campus that includes an ambulatory surgery center and one other medical office building. Emerson Medical Plaza Building 2 is 100 percent leased to Shands Jacksonville Medical Center, which is affiliated with the University of Florida,” adds Smelter.
Emerson Medical Plaza Building 2 was built in 2009 on 4.41 acres. There are more than 10 years remaining on the lease. The first floor was designed and constructed for imaging services including, MRI, CT, ultrasound and fluoroscopy. The second floor specializes in women’s health and offers an Advanced Breast Imaging Center as well as bone density, high-risk obstetrics, gynecologic cancer care, menopause care, urogynecology and gynecological ultrasound services. The third floor has been designated for cardiology and neurology services and the architectural planning process will begin in 2012.