December 30th, 2020
Cleveland, OH - Woodside Health is pleased to announce the sale of three medical office buildings in Florida. Included in the transaction were Estero Medical Center, a 36,000 square foot medical office building in Estero acquired by Woodside in 2016, and Oak Point, which consists of two medical office buildings totaling 41,000 square feet in Vero Beach acquired by Woodside in 2014.
Woodside purchased the Estero property from an ownership group that included several of the tenants. At that time, Woodside worked with those practices to restructure their leases, creating both an attractive exit and long-term leasing stability for them.
At the Vero Beach buildings, Woodside converted much of the general office space to high-quality medical space, enclosed an old bank drive-thru to add additional medical space, added new medical tenants and also improved the physical plant.
"We've gotten to know the tenants in Estero and Vero Beach over the last few years, and will miss working with them," said Ben Sheridan, Woodside Health Principal. "These are both beautiful neighborhoods and the medical professionals in these buildings do a great job serving their community," he added. "We agreed to sell these buildings now because we believe the buyer, a very professional medical office building owner, will be just as dedicated to providing first-class service to the tenants and their patients," continued Sheridan.
These are the sixth and seventh sales for Woodside Health, the medical office building acquisition and management firm with properties in Arizona, Florida, Georgia, Michigan, Ohio and Texas. The firm has acquired 34 medical office properties and has additional properties under contract.
About Woodside Health
Cleveland-based Woodside Health is a medical office building acquisition and management firm. Woodside Health treats their tenants like customers. They proactively enhance the exterior and interior spaces of their buildings and are devoted to establishing long-term relationships with their tenants. The firm's principals have decades of experience investing in and managing real estate. For more information, please visit www.WoodsideHealth.com.