Healthcare Realty Acquires Tampa Medical-Office Building

TAMPA, FL—Nashville, TN-based Healthcare Realty reports it has acquired 17 Davis, a medical-office building here for $8 million in an off-market transaction from M West Holdings.

The Class A 48,200-square-foot medical office building located next to Tampa General Hospital on Davis Islands is 93% occupied with several specialties and physicians from USF Health.

Juan Vega, Jr., SIOR, CCIM, and Jim Allen, managing directors of the Healthcare and Office Services Group with Colliers International Tampa Bay represented the buyer.

Colliers International Tampa Bay's medical office team played a key role in the off-market transaction from start to finish, company officials state. After the Colliers team identified 17 Davis as a prime sale opportunity, they presented a financial case for a sale to the owner. The Colliers team identified and short listed potential buyers and presented an offer to M West Holdings, leading to the sale.

As an owner, Healthcare Realty typically provides property management services to its portfolio of approximately 9.7 million square feet of medical office around the country.

“The building was an excellent opportunity for Healthcare Realty to grow its portfolio in Florida by purchasing a property adjacent to Tampa General Hospital,” says Vega. “This property is in an area that would prove to be difficult to build another major medical office building, since the land surrounding Tampa General Hospital is scarce and typically trades at a premium.”