Cornerstone Properties & KKR Acquire Medical Office In Largo & Spring Hill For $7.5M

115 Highland Ave & 1130 Commercial Way, located in Largo & Spring Hill, was recently sold in a closed transaction. The property, which falls under the category of Medical Office, was purchased by Cornerstone Properties & KKR. The sale was facilitated by broker Pedrum Lavassani from Matthews Real Estate Investment Services. The transaction took place on 01/03/2022.

Summary of Transaction Details

• Property Type: Medical Office
• Transaction Amount: $7,500,000
• Address: 115 Highland Ave & 1130 Commercial Way, Largo & Spring Hill
• Market: Largo & Spring Hill

The sale of 115 Highland Ave & 1130 Commercial Way was closed at a sale price of $7,500,000, with a capitalization rate of 5.85%. This transaction represents a significant deal in the Medical Office asset category. Pedrum Lavassani from Matthews Real Estate Investment Services served as the broker in this transaction, representing the buyer, Cornerstone Properties & KKR. The sale showcases the strong demand for medical office properties in the Largo & Spring Hill market.