Healthcare Real Estate Services at Bull Realty brokered the sale of a 20,621 SF single-tenant medical professional building located in Melbourne, FL. The sale closed on February 16, 2018 for $3,800,000 at a 7.5% cap rate.
The property is currently 100% occupied by BioReference Laboratories, the largest laboratory in the Southeast and the third largest nationwide. The tenant has occupied the location since 2013.
Bull Realty was chosen to market the property exclusively by the seller, Hibiscus Professional Center, LLC. The buyer, represented by Florida-based Coakley Realty, was Williamson Holdings, LLC.
Healthcare Real Estate Services (www.HealthcareRealEstateServices.com) are speciality brokers with Bull Realty, Inc. (www.BullRealty.com), a commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts America’s Commercial Real Estate Show (www.CREshow.com).
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