Medical Village of Tampa
Surgery Partners (NASDAQ: SRGY) needed a multi-specialty facility including an ASC within the crowded medical district near St. Joseph’s Hospital. SRGY did not have time for a ground-up development and there were no adequate spaces available within the sub-market.
HHRE was engaged initially as a broker to find a suitable location. After an extensive survey of on and off-market properties, the only suitable option found was a vacant supermarket. The existing owners lacked the ability and willingness to redevelop the property. HHRE acquired the property, rezoned, and redeveloped the property. SRGY executed a long-term lease agreement for the entire facility. The total project took only 9 months, nearly half the time it would have taken to build a ground-up facility.
SRGY was able to transition all of its practices to the new facility prior to a forced long-term lease renewal at their prior ASC location. Patients can now receive all of SRGY’s services in one convenient location at a lower cost than new construction.
