Southport Medical Center

Franklin Street Brokers $12.3M Sale of Medical Retail Property in Metro Orlando

by Julia Sanders

KISSIMMEE, FLA. — Franklin Street has brokered the sale of Southport Medical Center, a 37,454-square-foot, multi-tenant retail strip center in Kissimmee. Greg Matus, Adam Tiktin, Alex Lazo and Jonathan de Maa of Franklin Street represented the undisclosed seller in the transaction. Mark Shellabarger and Ari Ravi of CBRE represented the buyer, Stanley Properties, which acquired the property as part of a 1031 exchange.

Southport Medical Center was fully occupied at the time of sale to Quest Diagnostics, IMA Medical Group, Cora Physical Health Services, Domino’s Pizza and a nail salon. All 10 tenants at Southport Medical Center have triple-net leases, many of which have over five years remaining on their terms. Built in phases between 2006 and 2012, the property has undergone significant capital improvements by some of the tenants over the years.

Located at 3350 W. Southport Road on a 3.9-acre site, the property is situated 35.4 miles south of Orlando and 20.1 miles from Walt Disney World Resort.

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