Lakewood Ranch office sold for nearly $32M in off-market deal

A Lakewood Ranch medical office building was recently acquired in an off-market deal for $31.8 million. 

The price represented a nearly 42% premium over the most-recent official Sarasota County assessment of the building, at at 6600 University Parkway, which was for $22.4 million.

The seller of the building, Center Point Medical Center, is Casto Center Point Phase II LLC, which paid $2.2 million for the property in 2019, Sarasota County property records show. Casto is a prolific builder in the region, having built Center Point at Waterside, among several other mixed-use projects.