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-fo
cused 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.