A fully leased medical office complex on Cortez Road West in Bradenton has sold for $8.35 million, underscoring continued investor interest in Florida healthcare real estate. The two-building property is anchored by major medical providers and has gained significant value since its previous sale in 2021.
Key takeaways
- The 23,158-square-foot complex sold for $8.35 million.
- The property sits on 4.2 acres at 4351 and 4401 Cortez Road W.
- The buildings were fully leased when the transaction closed.
- The property’s value rose nearly 72% from its 2021 purchase price.
The sale highlights the appeal of stabilized medical office properties, particularly those occupied by established healthcare providers. Such assets can offer investors relatively predictable income and longer-term tenant demand compared with more traditional office properties.
Property changes hands after sharp value increase
Zinnia Center VI, a Lakewood Ranch-based limited liability company, sold the complex to Cortez Road Bradenton LLC, an entity associated with Daniel Corp., a Maitland-based commercial real estate development and investment firm.
Zinnia Center VI acquired the property in 2021 for nearly $4.86 million. The latest transaction represents an increase of almost 72% in roughly five years, reflecting both the property’s leased status and the broader demand for healthcare-focused commercial real estate.
Healthcare tenants anchor the complex
The two buildings total 23,158 square feet and were fully occupied at the time of the sale. MaxHealth serves as the primary anchor tenant. The practice was acquired in February by CenterWell Senior Primary Care, a healthcare business owned by Humana.
Other tenants include Dermatology Associates, Cancer Center of Sarasota-Manatee and Coastal Cardiovascular Consultants. The mix of medical providers gives the property a concentration of healthcare uses and supports its positioning as a specialized office investment.
Gulf Coast market attracts investors
The transaction was brokered by SVN Commercial Advisory Group, with Senior Advisors Matt Fenske and Tony Veldkamp representing the seller. The brokerage characterized the sale as evidence of strong demand for stabilized medical office properties along Florida’s Gulf Coast.
Investor interest has been supported by population growth across the region and the expanding presence of regional and national healthcare organizations. Those trends can make medical office properties attractive to buyers seeking assets with durable demand and institutional-quality tenancy.
Sale reflects changing office preferences
The deal also illustrates how investors are differentiating between traditional office buildings and properties designed for specialized medical use. While some office segments continue to face uncertainty, medical facilities benefit from essential services, recurring patient demand and the need for providers to maintain convenient local locations.
For Bradenton, the sale adds another data point to an active commercial property market, showing that well-leased healthcare assets can command substantial pricing even as broader real estate conditions remain selective.
Sources
- Medical office complex in Bradenton sells for $8.35M, Business Observer.