Fort Lauderdale, Fla. (October 4, 2021) – SRS Real Estate Partners’ National Net Lease Group announced it has completed the sale of a freestanding Conviva Care Center, located at 5799 Lake Worth Road in Greenacres, Fla. Conviva is a subsidiary of Humana Inc. a leading provider of senior-focused primary health care in Florida and Texas with more than 90 locations.
SRS NNLG’s Patrick Nutt and William Wamble represented the seller Mouhalis Capital Management in the $4.32 million transaction with CA-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, Vice President 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,” Wamble added.
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 ensuring its long-term commitment. More than 322,000 residents support the area with 114,000 employees in the trade area. Lake Worth Road is a primary retail and commuter corridor serving the immediate trade area.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.
SRS’ Investment Properties Group (IPG) & National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2019, the group completed more than 400 sales across more than 35 states and has over 50 NNLG professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsre.com/national-net-lease-group.