A less than 4,000-square-foot dental office in Lee County has sold to an investor for $3.1 million.<\/p>\n
The property is at 1621 Cape Coral Parkway W. An LLC tied to a private home in suburban Dallas bought the office. The seller is WMG Development in Winter Garden. According to Lee property records, the developer paid $1.53 million for it in 2021.<\/p>\n
The 3,918-square-foot office, which was built in 2005 and renovated in 2021, sits on 1.12-acres across from the Publix Super Market anchored Camelot Isles shopping center.<\/p>\n
Marcus & Millichap, which represented WMG in the deal, says in a statement that the building is leased to Heartland Dental. It operates as Chiquita Dental Care but corporately supported by Heartland, the lease guarantor.<\/p>\n
Heartland is a support company that offers administrative services to independently owned dental practices.<\/p>\n
The tenant has a new 10-year absolute triple-net lease.<\/p>\n
Don McMinn, senior managing director for investments for Marcus & Millichap, says in the statement that the medical office sector \u201cremains one of the most resilient and attractive net-lease segments.\u201d<\/p>\n
\u201cThis deal highlights the momentum we\u2019re seeing as rate cuts drive stronger buyer confidence, higher transaction volume and greater investor demand.\u201d<\/p>\n
McMinn, Andrew Koriwchak and Ryan Nee represented WMG.<\/p>\n
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