$12.5 million building sold

LAKEWOOD RANCH —A collection some of Bradenton's most prominent power players sold Lakewood Ranch Medical Office Building I to Grubb & Ellis Healthcare REIT II for $12.5 million. The deal closed Friday.

Florida Senate President John McKay, Gary Huggins and general contractor Ron Allen are the sellers and developers of the 7-year-old building. Allen's firm, NDC Construction, built the building and the nearby Lakewood Ranch Medical Office Building II. Both buildings are adjacent to the Lakewood Ranch hospital.

The 57,563-square-foot building was 97% occupied at the time of the sale.