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Land purchased for new VA primary care facility for $7.55M

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  • | 2:21 p.m. May 18, 2012
  • Commercial Real Estate
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BUYER: Duke Realty LP (Duke Realty Corp.), Indianapolis

SELLER: Crescent Resources LLC

PROPERTY: 8875 Hidden River Parkway and additional land including a portion on Laurel Haven and sections of Lake Terrace Lane, Tampa

PRICE: $7.55 million

PREVIOUS PRICE: $9.2 million, May 1997

LAW FIRM ON DEED: Pohl & Short PA, Winter Park

PLANS, DESCRIPTION: Duke Realty purchased 17.19 acres in Hidden River Corporate Park near Interstate 75 for $7.55 million.

The price equated to $439,209 per acre.

Indianapolis-based real estate firm has been hired by the Department of Veterans Affairs to develop a primary care clinic on the site to lease to the VA. Duke Realty plans to spend the next 18 months designing and building the 106,000 (net useable)-square-foot facility with the goal of having it completed by late 2013 or early 2014.

“We're hoping to break ground some time in the fall,” says Jerry Dawson, vice president of development and government solutions for Duke Realty. “This is a part of a larger strategic plan by the VA to put facilities closer to where veterans live to reduce their need to travel for services. It reflects the changing demographics of veterans.”

The two-story facility will offer women's wellness, radiology, mental health services and a pharmacy. It will also include 826 surface parking spaces. The VA will lease the new facility and property from Duke Realty.

The architect for the project is Minneapolis-based HGA (Hammel, Green and Abrahamson).

This is the second facility Duke Realty has created for the VA. It developed a 213,029-square foot satellite outpatient VA clinic in Fort Worth, Texas, which opened in the fall of 2010.

Duke Realty owns and operates 136 million rentable square feet of industrial and office space in 18 cities.


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