Medical office complex in Bradenton sells for $8.35M

Two buildings in Bradenton have sold for a combined $8.35 million, according to SVN Commercial Advisory Group, which brokered the deal. Situated on a 4.2-acre parcel, the properties are 4351 and 4401 Cortez Road W.

The seller is Zinnia Center VI, a Lakewood Ranch-based LLC. The buyer is Cortez Road Bradenton LLC, an entity associated with Daniel Corp., a commercial real estate development and investment firm based in Maitland.

Spanning more than 23,000 square feet, the Bradenton property was fully leased at the time of the sale, according to a statement. It is anchored by MaxHealth, which was acquired in February by Humana subsidiary CenterWell Senior Primary Care. Other tenants include Dermatology Associates, Cancer Center of Sarasota-Manatee and Coastal Cardiovascular Consultants.

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Senior Advisors Matt Fenske and Tony Veldkamp of SVN Commercial Advisory Group represented the seller.

“This sale reflects just how strong the market is for stabilized medical office properties on Florida’s Gulf Coast, particularly for assets backed by institutional healthcare credit,” Fenske says in the statement.

Zinnia Center VI purchased the complex in 2021 for nearly $4.86 million, so the latest sale represents a nearly 72% price increase.

"This kind of pricing on a fully leased medical asset speaks to the strength of our office submarket," Veldkamp says in the statement. "Investors recognize the long-term stability that comes with healthcare tenancy in a market with this kind of population growth and expanding regional and national health profile."