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JACKSONVILLE-Healthcare Trust of America continues its year-end buying spree, signing an agreement to acquire the 53,169-square-foot King Street Medical Office Building. The Scottsdale, AZ-based REIT will pay approximately $10.7 million for ownership rights of the 100%-leased asset.

The building at 1 Shircliff Way on the St. Vincent Medical Center campus, houses the Gary and Nancy Chartrand Heart & Vascular Center. It connects to the 528-bed St. Vincent’s Medical Center by a sky bridge. The hospital itself is on the shore of the St. Johns River.

“This is an expansion of our existing presence in the Jacksonville marketplace and we look forward to future growth in this market,” said HTA’s executive vice president of acquisitions Mark D. Engstrom in a statement announcing the transaction. Engstrom could not be reached for comment by deadline.

Local developer Batson-Cook Co. broke ground on the King Street Medical Office Building in 2005 at a cost of approximately $4.5 million. An article on Batson-Cook’s website indicated the construction was a collaborative effort between the developer and St. Vincent’s Health System.

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