SRS Real Estate Partners’ National Net Lease Group has completed the sale of a freestanding Conviva Care Center located in Greenacres, within Florida’s Palm Beach County.
SRS NNLG’s Patrick Nutt and William Wamble represented the seller, Mouhalis Capital Management, in the $4.32-million transaction with California-based buyer Trojan Opportunities, LLC.
“This asset garnered multiple offers and we ultimately sold the property at full asking price to a California-based private investor,” commented Will Wamble, VP with SRS. “While certain sectors of tenants garner less attention in a post-Covid era, the pricing and terms of this transaction go to show that well-located real estate occupied by creditworthy medical tenants are in very high demand.
The property is a 7,928-square-foot, single-tenant building built in 2008 and renovated in 2021. Conviva recently signed an eight-year absolute NNN lease to ensure its long-term commitment.