In the week's top commercial real estate news, a Sarasota tower is rejected, a Miami law firms opens in Tampa, and Port Charlotte is getting a new restaurant and bar.
Healthy buy: Miami commercial real estate investment firm United Capital paid $4.89 million for a medical office building in Port Charlotte. The 12,216-square-foot building is at 223395 Edgewater Drive and is currently occupied by the Florida Cancer Center. According to United, which announced the deal in a news release, the sale was done through a 1031 Exchange. Bayshore Partnership LLP was the seller. It paid for $340,000 for the then-vacant 2.8-acre property in 2000. United says in the statement that its portfolio includes single and multi-tenant retail, medical office, health care and educational related properties throughout Florida. A look at its portfolio online shows it’s also invested in properties in Indiana and Missouri.
Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.
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