15,000 SF Medical Office Plaza Listed for Sale Amid High Medical Office Demand West Of Orlando

Sep 18, 2017 No Comments by

Transwestern today announced it has been retained to sell Royal Oaks Plaza, a 15,782-square-foot, single-story, multi-tenant medical office building located within a commercial development at 2105 Hartwood Marsh Road in Clermont.

Transwestern’s Managing Director John Bell is marketing the asset, which will be auctioned through RealINSIGHT Marketplace on Sept. 27, 2017, on behalf of a Special Servicer seller.

Situated on 1.65 acres at the prominent intersection of U.S. Highway 27 and Hartwood Marsh Road and directly across the street from a major Publix-anchored shopping center, the highly efficient design of Royal Oaks Plaza allows direct entrances to tenant spaces with no interior common areas, reducing common area costs for tenants. Currently 73.5 percent occupied with a majority of long-term leases from established tenants, Royal Oaks Plaza offers the security of established in-place income along with two vacant spaces totaling 4,182-square-feet that are built-out and ready for immediate occupancy.

 

“Located in one of Florida’s fastest-growing and affluent residential bases, Royal Oaks Plaza offers significant upside potential as vacancy continues to decrease due to the demand created by the growing residential, employee, and tourist base surrounding the property,” said Bell. “The strong demand for quality medical office space is demonstrated by the leasing velocity at Royal Oaks Plaza in the past month, during which two new leases were signed.”

The significant income level and growth rate in Clermont provide long-term demand for service businesses such as medical providers. Over the past year, new home construction has seen an uptick, and existing home values have skyrocketed 4.4 percent. Moreover, the city’s office market has limited availability for tenants, making it attractive for investors.

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