News Release: Marcus & Millichap Arranges Sale of 18,708 Square Foot Medical Office Building

RIVERVIEW, FL, July 5, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Bay Area Physicians Surgery Center, an 18,708 square foot medical office property located in Riverview, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $7,200,000.

“The healthcare industry has experienced significant growth over the past several years and the seller captured the opportunity to take advantage of the surgery center’s healthy performance,” says Krone Weidler, first vice president investments in Marcus & Millichap’s Tampa office. “The buyer took advantage of an opportunity to acquire an excellent, well positioned asset to add to their portfolio.”

Weidler, and L.J. Tsunis, associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a REIT, was secured and represented by Kimberly Cameron, senior associate in Marcus & Millichap’s Nashville office.

Bay Area Physicians Surgery Center is located at 6043 Winthrop Commerce Avenue in Riverview, Florida. The building is occupied by Bay Area Physicians Surgery Center and Florida Urology Partners.

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