Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a medical office property located at 330 Brandon Town Center Drive in the east Tampa, Florida suburb of Brandon. The 45,000-square-foot medical office property sold for $14.0 million. The property is currently leased to Rasmussen University, the largest national nursing and health sciences educator. James Ullrich and Michael J. Macchia of Northmarq represented the seller, a Florida-based developer. The buyer, a private investor from California, was represented by David Tower of Coastal Commercial Real Estate.
“Tenant strength carried this transaction as the nation is suffering from a shortage of nurses, and Rasmussen endeavors to solve that problem,” said Ullrich, Director in Northmarq’s New York office. “Rasmussen’s extensive history portends a long future but possesses feel good ESG elements to be long-lasting.”
The education facility was built in 1994 and extensively built-out in 2021. The regionally accredited private university operates on a double net lease with 10 years remaining and is one of 24 campuses across the country.