SOUTHWEST, FL, August 08, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale-leaseback of a 81,541-square-foot, six-property Physicians’ Primary Care of Southwest Florida (PPC) Portfolio, according to John M. Przybyla, regional manager of the firm’s Chicago Downtown office. The portfolio comprised of four locations in Cape Coral and two locations in Fort Myers, Florida. The portfolio sold for $28.5 million.
Gino Lollio and Scott Niedergang, senior directors in Marcus & Millichap’s Chicago Downtown Healthcare Real Estate Group, represented the seller, a group of 25 plus physicians affiliated with the tenant. Lollio and Niedergang also procured and represented the buyer, a fund managed by a full-service commercial real estate company with over 33.75 million square feet of retail, office and industrial properties and over 7,000 multifamily units for equity partnerships and third party owners. Kirk Felici, the firm’s broker of record in Florida, assisted in the transaction.
PPC executed brand new leases at each location upon close of escrow. Four properties are located on Viscaya Parkway in Cape Coral which is located six-tenths of one mile from Lee Memorial Health System’s Cape Coral Hospital. The two remaining properties are located in Fort Myers on Park Royal Drive and Camelot Drive. The Fort Myers – Park Royal Drive building is located seven-tenths of mile from Lee Memorial Health System’s HealthPark Medical Center.
Physicians’ Primary Care of Southwest Florida, a physician-owned and operated medical practice, was formed in 1996 by several of the area’s best-known independent physician groups with the mission of being the premier multi-specialty group in Southwest Florida. It has become the largest independent multi-specialty primary care practice in Southwest Florida. Specialties include family practice, internal medicine, obstetrics and gynecology, and pediatrics.
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