SRS Real Estate Partners announced today the $4.8 million ground lease (land ownership) sale of a newly constructed single-tenant medical office property occupied by Florida Health Care Plan, Inc. located at 2655 LGPA Boulevard in Daytona Beach, FL. The asset is corporately guaranteed and features a brand-new 20-year absolute triple-net (NNN) lease, offering long-term stability and zero landlord responsibilities.

SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a Florida-based developer, as well as the 1031 buyer, a private investor. The transaction closed at full asking price.

“We sold on behalf of a developer to a repeat 1031 client who owns a diverse portfolio,” said Nutt. “This is the sixth property we have sold to this family office investor over the past six months. This investment was highly sought after for its unique blend of credit, term and purchase price well below the replacement cost of the improvements constructed by the tenant. We ran a national marketing campaign resulting in multiple full-price offers, selecting the final purchaser based upon timeliness of their offer and recent transactional experience.”

He added, “Investors are looking for well-priced, strong credit medical tenant assets. The healthcare real estate sector remains resilient and highly sought after.”

The property is directly off the I-95 and is across from Latitude Landings, a Publix-anchored center. The Daytona International Speedway is five miles from the property and Daytona International Airport is just seven miles away.

This year, SRS Capital Markets has completed more than $1.2 billion in deal volume comprised of more than 350 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.

The post SRS Real Estate Partners Arranges $4.8 Million Ground Lease Sale of a Single-Tenant Medical Office Property in Daytona Beach, Florida appeared first on citybiz.

This contant was orignally distributed by citybiz. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is SRS Real Estate Partners Arranges $4.8 Million Ground Lease Sale of a Single-Tenant Medical Office Property in Daytona Beach, Florida.