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TAMPA — Tower Radiology sold four of its offices to New York-based Broadstone Net Lease Inc. for $14.5 million. Subsequently, Tower signed a 15-year lease agreement with Broadstone for each of the sold properties.
Colliers International Tampa Bay structured the deal. Broker Joshua Purdue says the deal represents a larger trend in Florida's commercial real estate market.
“Pent-up capital once allocated for distressed product is shifting to sale-leasebacks, specifically medical property,” Purdue said. “Sale-leasebacks in this economic stage allow physicians to monetize their real estate so they can reinvest and grow their practice.”
Tower Radiology is one of the nation's leading outpatient radiology service centers. The sale of its offices gives Broadstone a portfolio of 78 properties in 21 states.
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