Project Description

Cape Coral Surgery Center

2721 Del Prado Boulevard,
Cape Coral, FL 33904
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Property Type:
Ambulatory Surgery Center-Anchored Medical Office Building

Property Sale Price:
$10,000,000

Square Footage:
39,142

Major Tenants:
Cape Coral Surgery Center (Partnership with Surgery Partners, Inc.), 21st Century Oncology, and Kagan Jugan & Associates, Inc.

Highlights

•  39,142-square foot, multi-tenant medical office building | 95% occupied by nine medical tenants at time of sale

•  Our team worked with ownership to secure lease extensions prior to sale

•  Located within a 10-mile radius of Lee Memorial’s Cape Coral Hospital and Lee County VA Healthcare Center

•  15,756-square foot mulit-specialty ambulatory surgery center (ASC) | Operational JV partnership comprised of practicing physicians and Surgery Partners Inc. (NASDAQ: SGRY)

•  Five-mile population exceeded 180,000 residents

Print Details

Contact Agents:

Scott Niedergang Managing Director, Healthcare Advisory Practice | Capital Markets Direct: (312) 338-7060 Cell: (312) 342-4495 scott.niedergang@cushwake.com
Gino Lollio Managing Director, Healthcare Advisory Practice | Capital Markets Direct: (312) 338-7061 Cell: (239) 810-4714 gino.lollio@cushwake.com

Florida Broker of Record:

Gary Tasman

Summary

Cushman & Wakefield has arranged the $10 million sale of Cape Coral Surgery Center Medical Office Building in Cape Coral, Fl. The firm’s Healthcare Advisory Practice, Capital Markets, led by Gino Lollio and Scott Niedergang of Chicago and with the assistance of Gary Tasman of Florida, represented the ownership group in the sale.

The ownership group consisted of a number of physicians practicing out of the building and associated with the surgery center operation. The Cushman & Wakefield team also procured the buyer, a California-based real estate private equity firm focused on creating and maximizing value through the strategic acquisition and management of assets throughout the country.

Cape Coral Surgery Center is a 39,142 square feet (SF) multi-tenant medical office building that is currently 95% occupied by nine medical tenants including Cape Coral Surgery Center, 21st Century Oncology and Kagan Jugan & Associates, Inc. The five-operating room surgery center is run by a partnership between local physicians and the national surgery center operator, Surgery Partners, Inc. (NASDAQ: SGRY).

Gino Lollio, Managing Director, Cushman & Wakefield adds, “Cape Coral Surgery Center is strategically positioned in the heart of Cape Coral and has high roadside visibility on Del Prado Boulevard. The area boasts a good deal of traffic and strong population density.  The property itself is located less than five miles south of Lee Memorial’s Cape Coral Hospital.  Cape Coral Surgery Center is the only multispecialty outpatient surgery center in the city and is approved for total joint replacement.  This asset is well-suited to capitalize on the trend of healthcare providers and patients seeking the benefits of procedures performed in an outpatient setting.”

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