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Florida & Gulf Coast  + Central Florida  + Healthcare  | 
North Tampa Surgery Center in Odessa, FL

JLL IPT Spends $9M for Newly Built Tampa Surgery Facility

JLL Income Property Trust has acquired the North Tampa Surgery Center, a 13,000-square-foot, newly constructed medical office building in Odessa, FL, for $8.5 million.

The property is 100 percent leased on a long-term basis to Comprehensive Outpatient Joint and Spine Institute Center. The build-to-suit property comprises three surgery centers; the lease term is for 20 years and provides for an average of 2% annual rent increases.

This acquisition increases JLL Income Property Trust’s healthcare allocation to nine properties totaling more than 925,000 square feet, valued close to $360 million and representing approximately 7 percent of its overall portfolio.

“The shift towards outpatient, standalone surgery centers as an alternative to undergoing procedures in traditional hospital settings combined with the continued aging of our population positions medical office buildings as attractive portfolio additions to our stable value, income-oriented portfolio,” said Allan Swaringen, president and CEO.

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Inside The Story

JLL Income Property Trust’s Swaringen

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition