{"id":1004141844,"date":"2016-04-15T01:56:10","date_gmt":"2016-04-15T09:56:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004141844"},"modified":"2022-03-03T16:46:12","modified_gmt":"2022-03-04T00:46:12","slug":"downtown-orlando-medical-office-building-sells-for-10-6m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/downtown-orlando-medical-office-building-sells-for-10-6m\/","title":{"rendered":"Downtown Orlando Medical Office Building Sells for $10.6M"},"content":{"rendered":"<p><em>By Robert Demeter<\/em><\/p>\n<div id=\"attachment_1004141847\" style=\"width: 265px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004141847\" data-attachment-id=\"1004141847\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/downtown-orlando-medical-office-building-sells-for-10-6m\/capture-21\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg\" data-orig-size=\"1603,755\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Robert Demeter&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1460649999&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Lake Lurna Professional Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Lake Lurna Professional Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg?w=1024\" class=\"wp-image-1004141847\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg\" alt=\"Lake Lurna Professional Center\" width=\"255\" height=\"120\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg 1603w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg?resize=300,141 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg?resize=768,362 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg?resize=1024,482 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Capture5.jpg?resize=1536,723 1536w\" sizes=\"auto, (max-width: 255px) 100vw, 255px\" \/><\/a><p id=\"caption-attachment-1004141847\" class=\"wp-caption-text\"><em>Lake Lurna Professional Center<\/em><\/p><\/div>\n<p><strong>Orlando<\/strong>\u2013<a href=\"https:\/\/www.marcusmillichap.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Marcus &amp; Millichap<\/a> recently arranged the sale of Lake Lurna Professional Center, a three-story 45,458-rentable-square-foot medical office property in downtown Orlando. The asset was sold for $10.6 million, with <a href=\"https:\/\/www.baumanco.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Bauman &amp; Co.<\/a> representing the buyer.<\/p>\n<p>\u201cThe property has been substantially renovated and is fully occupied by two strong, long-term tenants,\u201d Ray Turchi, vice president investments in Marcus &amp; Millichap&#8217;s Orlando office, said in prepared remarks.<\/p>\n<p>Turchi and Chris Travis, a senior associate in\u00a0 the firm\u2019s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor. Turchi, Travis and David Vaughan, an associate in the Orlando office, procured the buyer.<\/p>\n<p>The building is located at 1717 South Orange Ave. in Orlando, across from the Arnold Palmer Hospital for Children, the Winnie Palmer Hospital for Women &amp; Babies and the Orlando Regional Medical Center.<\/p>\n<p>The Lake Lurna Professional Center tenants include <a href=\"https:\/\/www.nemours.org\/locations\/nch\/locations.html?gclid=CjwKEAjw_7y4BRDykp3Hjqyt_y0SJACome3T4T-UhdhkUMo-rlm5HsryaWXWI9TxNx_4P1GJZkZuwhoCBTbw_wcB\" target=\"_blank\" rel=\"noopener\">Nemours Children\u2019s Specialty Care<\/a> and <a href=\"https:\/\/www.jewettortho.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Jewett Orthopedic Clinic<\/a>. Nemours, occupying\u00a034,092 square feet in the building, who <a href=\"https:\/\/www.commercialsearch.com\/news\/nemours-childrens-clinics-lease-on-south-orange-ave-renewed-2\/\" target=\"_blank\" rel=\"noopener\">renewed its lease in 2014<\/a>, was named one of the best children\u2019s hospitals in the nation by U.S. News &amp; World Report. Jewett is the official team physician for the Orlando Magic basketball team, the Orlando Solar Bears ice hockey team and University of Central Florida, among others.<\/p>\n<p>&#8220;This transaction is an excellent representation of how Marcus &amp; Millichap maximizes asset value for clients,\u201d added Justin West, regional manager of Marcus &amp; Millichap\u2019s Orlando office.<\/p>\n<p><em>Photo courtesy of Google Street View.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marcus &amp; Millichap, representing a private investor, sold the asset for $10.6 million to Bauman &amp; Co.<\/p>\n","protected":false},"author":59,"featured_media":1004141847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21754,21742,21747,1493],"tags":[],"class_list":["post-1004141844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-medical-office","category-latest","category-office","category-orlando"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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