Advent Health Expands Reach of Princeton Campus; Acquires Neighboring Property on N. Orange Avenue
Adventist Health System / Sunbelt Inc. closed on its purchase of the medical office at 3000 N. Orange Avenue, Orlando, Florida 32804 today. The final purchase price is $1,987,500.00.
The seller is a business trust controlled by Dr. Peter Weissgerger, M.D., whose address is associated with the subject property.
The property includes an 0.49 acre lot, and approximately 6,400 square feet of rentable space. According to sales materials discovered by the author, the premises are presently demised into three spaces, with leases ending between November 2020 and January 2024.
The seller acquired the property in 1993 at a cost of $350,000.00. The building improvements were constructed in 1994.
Of particular note, the seller and buyer recorded an "Assignment of Intangible Property and Development Rights" following the sale. The purpose of the instrument is for the seller's specific assignment of its interest in any development rights, trips, traffic capacity, entitlements, approvals, permits, authorizations, water and sewer credits, associated with the property.
The property was listed for sale by Darryl J. Hoffman, a commercial real estate broker with the JLL firm.
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Chirag B. Kabrawala, Esq.
Kabrawala Law Group PLLC