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Tampa Bay Area
Business Observer Friday, Sep. 8, 2017 3 years ago

Healthcare Trust buys Tampa office

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Healthcare Trust of America Inc. has acquired a Tampa area medical office building as part of a $2.75 billion portfolio deal with Duke Realty Corp.
by: Kevin McQuaid Commercial Real Estate Editor

Healthcare Trust of America Inc. has acquired a Tampa area medical office building as part of a $2.75 billion portfolio deal with Duke Realty Corp.

The Scottsdale, Ariz.-based company paid $56.14 million for the 13515 Lake Terrace Lane property, according to Hillsborough County property records.

Duke Realty bought the building in 2012 for $7.55 million, records show.

The 106,000-square-foot building, in Tampa's Westshore business district off Hidden River Parkway, is a primary care annex at the James A. Haley Veterans Hospital.

“Duke's medical office portfolio is a high-quality mix of primary on-campus properties that are uniquely well located, with 85% located in HTA's existing key markets,” says Healthcare Trust chairman and CEO Scott Peters, in a statement.

The Tampa area is already a key market for Healthcare Trust, the nation's largest owner of medical office buildings with a portfolio in 33 states valued in excess of $6.8 billion.

The company owns seven buildings in Largo that total 383,000 square feet and are valued at $124 million, according to its website.

In all, Healthcare Trust has acquired more than 24 million square feet of space since its founding in 2006. The Duke Realty acquisition added another 78 properties totaling 6.1 million square feet. At the time of the purchase, the Duke Realty portfolio was 94% leased, the company noted.

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