OrbVest Global Real EstateInvestment Overview
OrbVest is pleased to present the Tampa Medical Arts property. This well-maintained Class B medical office property is located in the Tampa MSA, directly across the street from the main entrance of AdventHealth Tampa hospital. The property totals 22,279 SF and has a current occupancy of 88%, representing a great opportunity to acquire a stabilized medical office asset in one of the fastest growing MSAs in the US.
The property, situated at 3010 East 138th Ave, Tampa, Florida, is a well-maintained Class B Medical Office Building. The property totals 22,279 SF and has a current occupancy of 88%. The Tampa Medical Arts property was completed in 1982 and went through a series of renovations in 2020 that included a new roof, HVAC replacement as well as new infrastructure for the elevator that allows access to all three levels. The property sits on 1.53 acres of land and is currently occupied by seven tenants, with one vacant space.
The property has a weighted average lease term (WALT) of 5.1 years. The strategy is to hold the property for a five-year term and while renewing existing leases that expire during this time period.
OrbVest is pleased to have partnered with SG Property Services again on this new property. OrbVest and SG Property Services have an excellent track record of working together and have had successful exits to date.
