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Real Estate Investment Trust Buys Florida Medical Office Building

Jacksonville, Florida – We have more news today from NNN Commercial Real Estate analysts on Medical Office Buildings (MOB). We recently wrote about Southern California NNN and now we have information on Florida NNN MOB’s. We want to report that Healthcare Trust of America Inc. has recently acquired a Medical Office Building (MOB). Healthcare Trust of America Inc. is a self-managed, non-traded, Real Estate Investment Trust (REIT). This Medical Office Building is on the campus of St. Vincent’s Medical Center, in Jacksonville, Florida. The Commercial Real Estate development has a purchase price at approximately $10.8 million.

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The commercial real estate development is known as King Street Medical Office Building. This MOB is located on the St. Johns River, which is a short distance from the growing area of Downtown Jacksonville. The commercial real estate MOB development is on the campus of St. Vincent’s Hospital. St. Vincent’s Hospital is very well known in the downtown Jacksonville area and is part of Ascension Health. Ascension is currently the largest Catholic healthcare system in America.

The Seller of this commercial property investment was an Investment Group called King Street Investors LLLP. This Commercial Real Estate development is a three-story brick and steel medical office building. This premier Medical Office Building investment was completed in 2007. The Medical Office Building is approximately 53,157 square-feet. It is comprised of net leased office space and clinical space. The commercial real estate development allows Tenants to have access with directly to a three level covered garage. The Commercial Property is conveniently attached by an enclosed elevated crossover system to St. Vincent’s Medical Center. The Medical Office Buildings are becoming attractive for 1031 Exchange replacement property.

Medical Office Buildings

The Medical Office building is occupied predominately by medical professionals. These medical professionals excel as Cardiothoracic and Vascular Surgery Specialists. Also this commercial property investment has a Nuclear Medical office facility, and Cardiac Rehabilitation. The Southern Heart Group Cardiologists, who have the largest cardiology practice in Jacksonville, Florida are located here. This Florida commercial real estate development was designed to co-locate all of the integral components of St. Vincent’s Heart program.

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This commercial property that was acquired is 100% occupied and is home to the Gary and Nancy Chartrand Heart & Vascular Center. The (MOB) Medical Office Building benefits tremendously from being connected via skybridge to the 528-bed hospital and parking structure at 1 Shircliff Way. Apparently King Street Investors net leased the land from the hospital, and that Lease will continue with this new commercial property ownership.

Healthcare Trust of America, is based in Scottsdale, Arizona. This Real Estate Investment Trust owns 7.5 million square feet including 163 Medical Office Buildings. This REIT also owns six hospitals, nine skilled nursing and assisted living facilities and four other Office Buildings in 21 states. In 2009, Healthcare Trust of America purchased approximately $493 million in medical office buildings and healthcare-related investments. We have REIT Buyers for many of the Florida Commercial Properties.

Start-ups and Commercial Real Estate Investments

Since their start-up in 2006, Healthcare Trust of America has made roughly 55 geographically investment property acquisitions valued at more than $1.43 billion based on purchase price. Healthcare Trust of America has commercial real estate investments in Arizona, California, Colorado, sunny Florida, Georgia, Illinois, Indiana, Kansas, Maryland, and Minnesota. Also Healthcare Trust of America has invested in commercial real estate in Missouri, New Hampshire, Ohio, Oklahoma, Tennessee, Texas, Utah, Pennsylvania, South Carolina, Virginia and Wisconsin.

Fortune 500 Companies

Jacksonville, Florida is currently home to three Fortune 500 Companies that include CSX Corporation, Fidelity National Financial, and Winn-Dixie Supermarkets. Winn-Dixie Supermarkets services Florida with their well known Beef products. Fortune Magazine has also reported that Landstar System, MPS Group, and PSS World Medical were the best big companies in Jacksonville, in the year of 2009.

Also, Jacksonville is the home to three military facilities. These fine bases include the Naval Air Station Jacksonville, Naval Station Mayport and Blount Island Command (Marines). Naval Submarine Base Kings Bay houses our valuable nuclear powered submarines. Currently, the United States Military is by far the biggest employer in the Jacksonville area.

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We recommend all Commercial Real Estate Investors use financing specialists. We can offer some qualified Commercial Lenders for CTL Financing, Mezzanine Loans and Commercial Loans.