Closings

MEDICAL & GENERAL OFFICE CLOSINGS BY MARK ALEXANDER, CCIM

SELLERS NAME IN BOLD

110.  Gunnar Thors MD   Sales Price: $1,755,000 or $230 PSF

Closed: July 31, 2017  Midwest Plastic Surgery

1474 Merchant Drive, Algonquin, Illinois 60102

109.  Market Street Investors    Sale Price: $1,850,000 or $370 PSF

Closed July 14, 2017 @ 7% Cap Rate, 9 Year Term NNN Lease

Dermatology Specialists of Florida, 1474 Market Street, Tallahassee, FL

108.  Yazan Khatib MD and 3 partners    Sale Price: $1,270,000 or $212 PSF

Closed June 7, 2017 @ 7.5% Cap Rate, 10 YR NNN Lease, 4 MD Guarantees

First Coast Cardiovascular Institute, 205 Zeagler Dr, Palatka, Florida        

107.  Ric Maribona DPM and 7 partners    Sale Price $3,850,000 or $526 PSF

Closed May 24, 2017 @ 6.9% Cap Rate,14 YR NNN Lease, 8 Doctor Guarantees

Gladiolus Surgery Center, 7431 Gladiolus Drive, Fort Myers, Florida

106. Christoper Klimowich DPM & 3 Partners   Sale Price: $1,173,000 or $235 PSF

Closed April 17, 2017 @ 100% of List Price, 8 YR NNN Lease, 4 Doctor Guarantees 

7.5% Cap Rate, MOB at 1510 Santa Barbara Boulevard, Cape Coral, Florida

105.  David Andrew DPM & 3 Podiatrist Partners  Sale Price: $3,534,000 or $336 PSF

Closed March 30, 2017 @ 100% List Price, 8 YR NNN Lease, 4 Doctor Guarantees

7.5% Cap Rate, MOB & Surgery Center, 5238 Mason Corbin Court, Fort Myers, FL

104.  Bill Evans MD and 4 Urology Partners     Sale Price: $3,167,000 or $356 PSF 

Closed November 3, 2016 @ 100% List Price, 5 Year Lease, 5 MD Guarantees

8.5% Cap Rate, Surgery Center at 12631 Whitehall Drive, Fort Myers, Florida

103.  Paul Bretton MD and 4 Urology Partners   Sale Price: $2,210,000 or $271 PSF

Closed November 3, 2016 @ 100% List Price, 5 YR Lease, 5 MD Guarantees

8.5% Cap Rate, MOB at 12651 Whitehall Drive, Fort Myers, Florida

102. Omar Benitez MD & 5 Urology Partners   Sale Price: $3,046,000 or $282 PSF

Closed June 27, 2016 @ 100% List Price, 5 YR Lease, 6 MD Guarantees

507 Del Prado Blvd, Cape Coral, Florida 

101.  Jim Borden MD & 5 Urology partners    Sale Price: $374,000 or 8.5% Cap Rate

Closed June 2, 2016  @ 100% List Price, 5 YR Lease, 6 MD Guarantees

3227 Lee Blvd, #2 Condo, Lee Blvd, Lehigh Acres, Florida

100. Paul DeCarlo DDS & M Willis DPM    Sales Price: $750,700 or $181 PSF, 8.5% Cap Rate

Closed Aug 11, 2015 @100% List Price   5 YR leases, 2 dentist personal guarantees

47 Barkley Circle, Fort Myers  Seller/Dentists Retired 3 years ago, new dentists tenants  

99. Ira Zucker MD & partners Sales Price: $4,391,000 or $318 PSF, 8.5% Cap Rate

Closed July 2, 2015   21st Century Oncology leased back for 5 years NNN Lease

7451 Gladiolus Dr, Ft Myers, FL  Limited Personal Guarantees by 4 MDs on lease

98. Larry Castillo, MD Sales Price: $1,000,000 or $266 PSF, 8.75% Cap Rate

Closed February 20, 2015  Sale/Leaseback for 7 Years

4017 Del Prado Blvd S, Cape Coral, FL  This is the second MOB Sale/Leaseback for Dr. Castillo

97. Drs. Thomas, Montalvo, Pizzo, Troyer Sales Price: $5,343,000 or 7.7% Cap Rate, 5 Year term lease

Closed May 30, 2014  Tenant: Manatee Memorial Hospital/Bradenton Cardiology CTR

316 Manatee Ave W, Bradenton, Florida     Medical practice sold to hospital two years earlier

TRANSACTIONS ARE LISTED CHRONOLOGICALLY. (NOI IS NET OPERATING INCOME ANNUALLY)

96. Dr. Sonni & Dr. Beissinger Sales Price: $6,603,000 or 8.5% Cap Rate, 8 Year term lease

Closed May 23, 2014   Sale/Master Leaseback by 2 orthopedic surgeons @ $19 PSF NNN

6325 US HWY 27 N, Sebring, FL  Master Lease sub-leased to Hospital PT & Ortho Practice (6 MDs)

95.  Orthopedic Specialists of SW FL Sales Price: $12,000,000 or $328.77 PSF or 8% Cap Rate

Closed November 8, 2013                     Sale/Leaseback by 8 MD’s, 10 YR NNN Lease

2531 Cleveland Ave, Fort Myers, FL  Rent started @ $26.30 PSF NNN, New County Record Price PSF!

94.  John Hyatt, DDS Sales Price: $392,320 or $160 psf or 10% Cap Rate

Closed October 11, 2013 Sale/Leaseback by Dr. Hyatt, 5 YR NNN Lease

15620 McGregor Blvd, Ft Myers, FL He picked a below market rent of $16 PSF to lower overhead

93.  Steve Paletsky, MD Sales Price: $3,950,000 or $286 PSF or 8.75% Cap Rate

Closed September 20, 2013  Tenant: 21st Century Oncology, 7 YR NNN Lease

7335 Gladiolus DR, Ft Myers, FL Set new record high price PSF in Lee County for MOB sale

93.  John Von Drak DDS  Sales Price: $2,800,000 or $173 PSF or 8.5% Cap Rate

Closed May 1, 2013 Tenant: Del Sol Hospital, 5 YR NNN Lease

7852 Gateway, El Paso, TX Subject: Del Sol Rehab located across from hospital

92.  Dareld Morris, DO Sales Price: $300,000 or $100 psf; sold Vacant

Closed May 1, 2013 Buyer: Local Dermatology group opening branch office here

2621 Cleveland Ave, Ft. Myers, FL  Older MOB needing update renovations

91. David Kaler, MD Sales Price: $965,000 at 10% Cap Rate or $193 PSF

Closed February 19, 2013 Buyer: 1031 Exchange investor from Dallas, Texas

4161 Tamiami Trail, #101 5-YR NNN lease, personal guarantee by one MD

Tenant: Orthopedic Surgery Group

90. Alexander Lozano, MD Sales Price: $531,000, 10% Cap Rate, $200 PSF

Closed December 28, 2012 Buyer: Investor from Central Florida

1419 Viscaya Pkwy, Cape Coral, FL 5-YR NNN lease, personal guarantee by one MD

Tenant: ENT Specialists of FL (8 MD’s) See www.ENTFL.com

89. A & Z Properties of SWFL, LLC Sales Price: $600,000, 10% Cap Rate, $200 PSF

Closed July 20th, 2012 Buyer: Canadian Investor

15621 New Hampshire Ct, Ft. Myers, FL 5 YR NNN lease, personal guarantee by one MD

Tenant: David Gutstein, MD Gastroenterologist

88. HTR, LLC (Drs. Harwin, Teufel, Reeves) Sales Price: $1,015,000, 10% Cap Rate, $240 PSF

Closed July 6th, 2012 Buyer: California Investor who owns multiple MOB’s

811 Del Prado Blvd, Cape Coral, FL 5 YR NNN Lease with 3 MD personal guarantees

Tenant: Florida Cancer Specialists www. FLCANCER.com 140 MD’s in firm

87. HTRH, LLC (Drs. Harwin, Teufel, Reeves Sales Price: $1.7 Million, 9% Cap Rate, $244 PSF

& Hart) Closed March 5, 2012 Buyer: Local Doctor planning for his retirement income

15681 New Hampshire Ct, Ft Myers, FL 5 YR NNN Lease with 4 MD personal guarantees

Tenant: Florida Cancer Specialists www. FLCANCER.com 140 MD’s in firm

86. Collier Plaza, LLC (First Bank short sale) Sales Price: $2,370,000 All Cash or $57.80 psf for 41,000 sf

Closed June 23, 2011 Buyer: Middle Eastern Investor from Washington, DC

11965 Collier Blvd, Naples, FL Bank was foreclosing on $6 million mortgage

85. New Vision Enterprises (NNN Medical) Sales Price: $1,819,460 or $122 psf for 14,915 sf

Closed March 11, 2011 Buyer: 1031 exchange investor from Massachusetts

4343 & 4409 Sun N Lake Blvd, Sebring, FL Formerly owned by Dennis Bassetti, MD

84. CNL Bank: Foreclosed Industrial Sales Price: $1.9 million or $32 psf for 60,000 sf building

Closed November 4, 2010 Buyer: Randal Bellestri of Naples, FL

8030 Supply Drive, Ft. Myers, FL Bank foreclosed on $6.2 million mortgage previously

83. Celebration Church Sale Sales Price: $1,587,000 for 25,000sf and 9 Acres

Closed October 9, 2010 Buyer: Next Level Church (i.e. my church)

12400 Plantation Rd, Ft. Myers, FL

82. Busey Bank: Foreclosed Office Sales Price: $65,000 or $53.67 psf for vacant shell

Closed April 1st, 2010 Buyer: IBRG, LLC. Will build out and rent medical office.

13440 Parker Commons Blvd, #103 Ft. Myers, FL Buyer renovating 1,211 SF office

81. Busey Bank: Foreclosed Office Sales Price: $78,715 or $65 psf for vacant shell

Closed March 17, 2010 Buyer: Scott Trentanero, DDS

13440 Parker Commons Blvd, #104 Ft. Myers, FL Buyer renovating for 1,211 sf dentist office

80. Busey Bank: Foreclosed Office Sales Price: $390,000 or $95 psf for vacant finished office

Closed Jan 20th, 2010 Buyer: Fritz, LLC for medical testing lab

6150 Diamond Center Court, #500 Ft. Myers, FL Buyer renovating 4,105 sf for lab

79. Busey Bank: Foreclosed Office Sales Price: $165,000 or $67.29 psf for vacant shell

Closed Jan 14, 2010 Buyer: Rick Novoa, DO & Karen Black, DO

13440 Parker Commons Blvd, #101-102 Ft. Myers, FL Buyer building out 2,453 sf medical office

78. Busey Bank: Foreclosed Office Sales Price: $70,000 or $58.24 psf for vacant shell

Closed Dec 21, 2009 Buyer: Melwyn D’Souza, MD & Raynita D’Souza, MD

13440 Parker Commons Blvd, #105 Ft. Myers, FL Buyer building out 1,202 sf medical office

77. Busey Bank: Foreclosed Office Sales Price: $165,000 or $67.29 psf for vacant shell

Closed Nov 24, 2009 Buyer: Brian Acrement, MD (Cardiologist) & A. Joseph

13450 Parker Commons Blvd, #105-106 Ft. Myers, FL Buyer building out 2452 sf Medical office

76. Timothy Underhill, OD & Robert LeSage, OD Sales Price: $475,000 or $149 PSF or 8.75% Cap Rate

Closed July 1st, 2009 3,185 SF Condo 5-YR NNN Leaseback, 2 personal guarantees

15620 McGregor Blvd, Ft. Myers, FL Sanibel Island, FL Buyer got local financing with ease.

75. George Whiteside, DDS Sales Price: $809,400 or $279.10 psf, 8.75% Cap Rate

Closed June 18th, 2009: 2900 sf Building 5-YR NNN Leaseback , DDS personal guarantee

7630 Cambridge Manor Pl, Ft. Myers, FL CA buyer obtained local bank financing with ease.

74. Barry Katz, MD & Clinton Massey, MD Sales Price: $1,598,000 or $205 PSF, 8.75% Cap Rate

Closed Dec 1, 2008 5-YR NNN leaseback, 2 MD Guaranties

625 Country Day Rd, Goldsboro, NC Neurosurgeons Office plus Extra Land included

Under Contract within a week! Closed at 100% of List Price.

73. W & L, LLC Sales Price: $1,475,000 or $162 PSF

Closed September 15, 2008 Short term leases, 25% Vacancy

6360 Presidential Court, Ft. Myers, FL 9,097 SF office with one medical space

72. Carl Reed, MD & Oscar Alea, MD Sales Price: $3,600,000 **or 8.2% Cap Rate

Closed August 22, 2008 7-Year Term NNN Lease, 4 MD guarantees

7970 Summerlin Lakes Dr, Ft. Myers, FL 13,044 SF Medical Office or $276 PSF

** Closed at $106,000 above List Price A national bidding war was created= $276 PSF!

71. Larry Castillo, MD (Asthma/Allergy Center) Sales Price: $854,200 or 9.3% Cap Rate

Closed June 20th, 2008 5-Year Term NNN Lease, MD Guarantee

8461 Cypress Lake Drive, Ft. Myers, FL 3,262 SF Medical Office or $261.86 PSF

70. Brad Williams, MD & Kurt Heitman, MD Et Al Sales Price: $439,000 or 8.75% Cap Rate

Ophthalmologists Closed May 29, 2008 5-Year Term NNN Lease, 3 MD Guarantees

1201 W. Faris Street, Greenville, SC 2,400 SF Optic Lab & Business Office

69. Stephen Bale, MD & John Phillips, MD Sales Price: $1,400,000 or 8.75% Cap Rate

9 MD OB/GYN Group Closed May 2, 2008 5-Year Term NNN Lease, 9 Personal Guarantees

200 S. Herlong Ave, Rock Hill, SC 7,980 SF Medical Office Condominium

68. Terry Connelly, MD & Mario Lopez, MD Sales Price: $7,850,000 **or $262.30 PSF

Cardiology Building Closed April 10, 2008 10-Year Term NNN Lease, Pers. Guaranties

25097 Olympia Ave, Punta Gorda, FL 29,927 SF Medical Office Building (MOB)

** Closed at $350,000 higher than List Price. A national bidding war was created.

67. Richard Avioli, MD Sales Price: $2,400,000 or 8.5% Cap Rate

Orthopedic Surgery Closed Dec 21, 2007 13-Year Term Lease, Personal Guaranty

934 Cox Road, Gastonia, NC 28212 12,658 SF Medical Office Building (MOB)

66. Marvin Burdette, MD & Charles Bobo, MD Sales Price: $1,920,000 or 8.75% Cap Rate

Ophthalmologists Closed December 4, 2007 5-Year Term NNN Lease, Personal Guarantees

210 Wells Ave, Greenwood, SC 29646 10,854 SF Medical Office Building (MOB)

65. Charles Zwerling, MD (Ophthalmologist) Sales Price: $385,000 or 8.75% Cap Rate

Sale/Leaseback closed Oct 31, 2007 5-Year Term NNN Lease, Personal Guaranty

232 Smith Chapel Rd, Mt. Olive, NC 27534 2,809 SF Medical Office Building (MOB)

64. Charles Gordon (Sold Medical Building) Sales Price: $347,000 or $138 PSF

NNN Leased, Closed June 28, 2007 9% Cap Rate

343 S. Commerce Ave, Sebring, FL 2,524 SF building rented to Dr. Seralde

63. Charles Gordon (sold Medical Condo) Sales Price: $619,000 or $160 PSF

NNN Leased, Closed May 18, 2007 8.6% Cap Rate

805/807 US Hwy 27, Sebring, FL 3,865 SF Medical Condominium

62. Charles Zwerling, MD (Ophthalmologist) Sales Price: $1,070,000 or $214 PSF

Sale/Leaseback closed April 24, 2007 Sold at 104% of List Price within 2 weeks!

2709 Medical Place, Goldsboro, NC

61. Doug Stokes, MD (Ophthalmology Group) Sales Price: $1,400,000 or $205 PSF

Sale/Leaseback closed March 30, 2007 Sold at 100% of List Price within 2 weeks!

104 Simpson St, Greenville, SC

60. Charles Gordon sold Ophthalmology Building Sales Price: $530,000 or $140 PSF

Closed March 7, 2007 Sold at 95% of List Price!

1596 US Hwy 27 North, Avon Park, FL MD being released from Lease, DDS moving in.

59. George Hoop, DDS bought vacant building Sales Price: $480,000 or $185 PSF

Closed February 21, 2007 Sold at 109% of List Price!

12630 Whitehall Drive, Ft. Myers, FL Our auction marketing drove up Price!

58. W. Alvin McElveen, MD (Neurologist) Sales Price: $735,000 or 8.4% Cap Rate

Closed September 19, 2006: Sale/Leaseback Sold @100% of List Price or $202 PSF

3930 8th Ave W, Bradenton, FL 5-Year Term NNN Lease + Options

57. James Stackhouse, MD & S. McLamb, MD Sales Price: $752,000 or 8.75% Cap Rate

Closed August 17, 2006: Sale/Leaseback Sold @ 100% of List Price or $160 PSF

201 Cox Blvd, Goldsboro, NC 5 Year Term NNN Lease + Options

56. Dennis Bassetti, MD Closed August 9, 2006 Sales Price: $1,821,000 or 8% Cap Rate

11,709 SF rented to Adventist Health System Sold @ 100% of List Price or $155.52 PSF

4421 Sun Lake Blvd, Sebring, FL 6 Year Term NNN Lease

55. Ronald Sevigny, OD Closed: June 30th, 2006 Sales Price: $650,000 or 8.75% Cap Rate

4,091 SF Medical Office Sale/Leaseback *$158.89 Per Sq Foot: 5-Year NNN Lease

210 US Hwy 27, Avon Park, FL *New Record high price per sf: Avon Park, FL

54. Clark Gaither, MD Closed: June 16, 2006 Sales Price: $2,130,000 or 8.5% Cap Rate

12,941 SF Medical Office Sale/Leaseback *$164.59 per square foot: 5-Year NNN Lease

2607 Medical Office Plaza, Goldsboro, NC *Set record high price per sq foot: Goldsboro, NC

53. Anu Sheth, MD Closed: June 8, 2006 Sales Price: $1,350,000 or 8% Cap Rate

6,699 SF Medical Office Sale/Leaseback $201.52 per square foot: 10-Year term Lease

7755 Old Norcross Rd, Lawrenceville, GA

52. John Kavanaugh Closed April 11, 2006 Sales Price: $1,525,000 (Full Listed Price)

24,370 SF Office including some medical uses $62.58 per Sq Foot at 7.5% Cap Rate

1701 Broadmoor Ave, Champaign, IL

51. Richard Smith, MD Closed January 5, 2006 Sale Price: $3,225,000 or 7.5% Cap Rate

17,658 SF Medical building: Sale/leaseback Sold @ $182.64 PSF or 97% of List Price

5911 Northwest Highway, Crystal Lake, IL Closed 90 days after listing signed.

50. Ray Yunker, Closed January 3, 2006 Sale Price: $1,850,000 or $174.38 PSF

Office building sale, former Pediatric space Corner of Summerlin & College Pkwy

Law Firm bought to move firm here 6350 Presidential Court, Ft. Myers, FL

10,609 Square Foot Building

49. Ray Yunker Closed November 30th, 2005 Sale Price: $1,678,000 or $185.83 PSF

Office Building Sale, 1 doctor in tenant mix Cap Rate: 8%

9,030 Square Foot building Lease terms: 3-5 Year terms

6360 Presidential Court, Ft. Myers, FL Rental Rate: $14.87 PSF NNN (average)

48. Chip Satterly, MD Closed November 1, 2005 *Sale Price: $3,550,000 or $213 PSF

Medical Office Sale/Leaseback Cap Rate: 8.7%

16,612 Square Foot Building Lease Term: 5 Yrs + 5 options @5-Yrs each

2303 Wellington Drive, Wilson, NC Rental Rate: $18.60 PSF NNN

47. QQ of Wilson, Inc. closed Sept 22, 2005 *Sale Price: $2,075,000 or $209.94 PSF

Forest Hills Medical Center Cap Rate: 8.8% Cap rate

9,888 Square foot building Lease Term: 5 Years + options

2130 Forest Hills Rd, Wilson, NC Rent: $18.50 PSF NNN

46. 3677 Central Ave LLC closed Sept 7, 2005 Sale Price: $1,490,000 or $69.18 PSF

Laurel Center Medical Office Cap Rate: 8.3%

21,539 square foot, multi-tenant complex Lease Terms: 2-3 years

3677 Central Ave, Ft. Myers, FL Rent: $5.75 PSF NNN Average rate

45. Attorney Marshall Cohen closed Sept 2, 2005 Sale Price: $166,800 or $158.86 PSF

Law Office Sale/Leaseback Cap Rate: 8.5%

1,050 square foot office condo at Lease Term: 3 years

1412 Royal Palm Square Blvd, Ft. Myers, FL Rent: $13.50 PSF NNN (triple net)

44. G. Hornback Closed July 20th, 2005 Sale Price: $345,000 or $101.47 PSF

Vacant Medical Office Building Former Optometrist office across from

2575 Cleveland Avenue, Ft. Myers, FL Lee Memorial Hospital

43. Dan Pisani, Trustee Closed June 9th, 2005 Sale Price: $4,110,000 or $118.07 PSF

Broadway Medical Plaza: 34,811 Sq Ft Cap Rate: 8%

3745 Broadway, Ft. Myers, FL Rental Rate: $9.45 PSF NNN

Multi-tenant building with extra land Lease Terms: 3 Years

42. Richard Halpert, MD Closed January 14th, 2005 Sale Price: $581,000 or *$172.46 PSF

Medical Office Condominiums: 3,369 Sq Ft Cap Rate: 9%

Sale/Leaseback Transaction Lease Term: 5 Years

Suites 500 & 700, 2402 Camden Street Rental Rate: $15.52 Per Sq Ft (NNN)

Wilson, North Carolina * New Record High Price Per Sq Ft in Wilson, NC

41. Thomas Rentz, Trustee Closed November 8th, 2004 Sale Price: $1,971,000 or $58.73 PSF

Medical Office Complex, 33,561 Sq Ft Cap Rate: 9%

100% occupancy Lease Term: 3 Years Remaining

3660 Central Avenue, Ft. Myers, FL NOI: $177,390 or $5.29 PSF NNN

40. Rachna Mehra, MD Closed July 15th, 2004 NOI: $50,247

Medical Office Condo Sale/Leaseback: 3,865 Sq Ft Cap Rate: 9%

895/807 US Highway 27, Sebring, Florida 33870 Lease Term: 5 Years

Rental Rate: $13 PSF NNN Sale Price: $558,300 or *$144.45 PSF

39. Cirilo Seralde, MD (G.P) Closed July 13th, 2004 NOI: $29,026

Medical Office Sale/Leaseback: 2,524 Sq Foot bldg. Cap Rate: 9%

343 S. Commerce Avenue, Sebring, Florida 33870 Lease Term: 5 Years

Across street from Highlands County Court House Rental Rate: $11.50 PSF NNN

Sale Price: $332,500 or $131.74 PSF

38. Barry Boyd, MD Plastic Surgeon, Closed 4-20-04 NOI: $14 1,750

Surgery Center Sale/Leaseback: 6,885 Sq. Ft. Price: $1,586,000 New Orlando Record

132 & 200 Benmore Drive, Winter Park, Florida Cap Rate: 8.9%

Across street from Winter Park Memorial Hospital Lease Term: 5 Years

*New Record Highest Price PSF Sale of Rental Rate: $20.59 PSF NNN

Medical Office in Orlando since 1999. Sale Price: *$230.35 PSF or

37. Tony Chen, MD Ophthalmologist Closed 12-23-03 Cap Rate: 9%

Medical Office Sale/Leaseback: 3,428 Sq Ft bldg Lease Term: 5 Years

1598 US 27 North, Avon Park, Fl Sales Price: $126.31 PSF

Rental Rate: $11.50 PSF NNN

36. Woodcrest JV – Closed September 17, 2003 Sale Price: $950,000 or $41.69 per square foot

Medical office complex totaling 22,785 sq. ft. All short term leases,

3677 Central Avenue, Ft. Myers Property needed $75,000 in additional repairs.

50% Occupancy at time of sale.

35. Dennis Bassetti, MD (Chief of Staff, Florida Hospital) Closed July 11, 2003

Two medical bldgs totaling 14,340 sq ft Sale/Lease Back

4409 and 4343 Sun n’ Lake Boulevard, Sebring, Fl. Lease Term: 10 Years

Across from Florida Hospital Rental Rate: $11.50 PSF NNN

Sales Price: $143.72 PSF

34. Partners Five- Closed June 24, 2003 Price: $475,000

5,050 square foot medical office building: Vacant Sales Price: $94 PSF

1688 Medical Lane, Ft. Myers, Florida

Note: Sold same building in August 1997 for $625,000 when it was 100% leased at 9.75% Cap Rate.

33. Partners Five – Closed December 5th, 2002 Sales Price: $108 PSF

7,685 square feet of Office Condos (15% vacancy-all short term leases)

6338 Presidential Court and 12734 Kenwood Lane Price: $830,000

South Ft. Myers, Florida

32. JAMES WOLPER, MD – Closed September 9, 2002. CAP RATE: 9.3%

5,428 SF Surgery Center: Endoscopy SALES PRICE: $156.60 PSF

665 Del Prado Boulevard, Cape Coral, FL RENTAL RATE: $14.61 PSF NET

LEASE TERM: 5 YEARS

31. S.V. NAGARATHINAM, MD – Closed June 2002. SALES PRICE: $100 PSF

1,285 SF Medical Condo Sale/Leaseback CAP RATE: 10%

Suite 4 at 1154 Lee Boulevard, Lehigh Acres, FL LEASE TERM: 5 YEARS

Lehigh Acres, Florida RENTAL RATE: $10 PSF NET

30. MARK GREENBERG, MD – Closed January 31, 2002. CAP RATE: 10%

2,600 sf Medical Sale/Leaseback LEASE TERM: 5 YEARS

12630 Whitehall Drive , Ft. Myers, FL Rental RATE: $13 PSF NET

Asthma/Alergy Specialty SALES PRICE: $130 PSF

29. 658963 ONTARIO LTD. – Closed January 31, 2002

7,340 square foot of office condominiums CAP RATE: 10%

Suites #300, 301, 304 and 307 LEASE TERM: 4 YEARS

3949 Evans Avenue RENTAL RATE: $7.35 PSF NET

Fort Myers, Florida SALES PRICE: $73.54 PSF

28. ROBERT BRUECK, MD AND MICHAEL PRICE DPD Closed October 16, 2001.

11,146 Square Foot HRS Approved Surgery Center CAP RATE: 10.5%

3700 Central Avenue, Ft. Myers, FL LEASE TERM: 5 YEARS

RentAL RATE: $14.13 PSF NET SALES PRICE: $134.58 PSF

27. PARTNERS FIVE – Closed June 1, 2001. CAP RATE: 11%

Suite F at 6210 Winkler Rd RENTAL RATE: $14.27 PSF NET

Fort Myers, Florida SALES PRICE: $130.00 PSF

Wildwood Hammock Subdivision LEASE TERM: 3 YEARS

Medical Office Condominium – 1,200 sq. ft. SALES PRICE: $130.00 PSF

26. DAVID HIGGINS CPA – Closed December 4, 2000. CAP RATE: 10%

Sale\Lease Back of Office Condo. – 4,636 sq. ft. LEASE TERM: 5 YEARS

Landmark Building, Suites 300 & 304 RENTAL RATE: $7.25 PSF NET

3949 Evans Avenue, Ft. Myers, FL SALES PRICE: $72.50 PSF

25. LEE COAST RESEARCH – Closed December 4, 2000. CAP RATE: 10%

Sale\Lease Back of Office Condo. – 2,704 sq. ft. LEASE TERM: 5 YEARS

Landmark Building, Suites 301 & 307 RENTAL RATE: $6.95 PSF NET

3949 Evans Avenue, Fort Myers, Florida SALES PRICE: $69.50 PSF

24. S. ORR AND A. JOHNSON – Closed June 26, 2000. NO CAP RATE: PRICE $325,000 OR $54 PSF

21300 Gertrude Street VACANT MEDICAL BUILDING: 6,000 SF

Port Charlotte, Florida Buyer: PT firm

23. RICARDO BENDECK, MD – Closed June 21, 2000. NO CAP RATE

7328 Sanibel Boulevard SALES PRICE: $78.10 PSF

South Fort Myers, Florida VACANT MEDICAL BUILDING

Medical Building – 2,100 sq. ft.

22. DR. CHARLES EBY – Closed April 26, 2000. Size: 7,170 SF building

Medical Sale\Lease Back: Dermatologist CAP RATE: 10%

which includes an HRS approved surgical facility LEASE TERM: 5 YEARS

2666 Swamp Cabbage Court RENTAL RATE: $11 PSF NET

Central Fort Myers, Florida SALES PRICE: $110 PSF

21. DR. ROBERT UNDERBERG – Closed 9-1-99.

Medical Sale/Leaseback: Optometrist CAP RATE: 10%

2575 Cleveland Avenue LEASE TERM: 5 YEARS

Fort Myers, Florida RENTAL RATE: $10 PSF NET

Medical Building – 3,200 sq. ft. SALES PRICE: $100.00 PSF

20. DR. CECIL BEEHLER AND DR. MARK GOROVOY Closed July 12, 1999.

Medical Sale/Leaseback: Ophthalmologists CAP RATE: 10%

4225 Evans Avenue LEASE TERM: 5 YEARS

Fort Myers, Florida RENTAL RATE: $11 PSF NET

Medical Building – 8,761 sq. ft. (1979) SALES PRICE: $110.00 PSF

19. LMR 398 PARTNERSHIP (includes Dr. Gerry Laboda) Closed March 1, 1999.

Sale/Lease Back of ProCraft Battery bldg. (industrial) SALES PRICE: $62.84 PSF

1765 Commercial Drive CAP RATE: 10.3%

Naples, Florida LEASE TERM: 10 YEARS

Building – 5,100 sq. ft. RENTAL RATE: $6.50 PSF NET

18. DR. MICHAEL & JULIE BELL – Closed 1-6-99 CAP RATE: 10%

Medical Sale/Lease Back LEASE TERM: 7 YEARS

1500 Royal Palm Square Boulevard, Suite 105 RENTAL RATE: $12.34 PSF NET

Fort Myers, Florida SALES PRICE: $121 PSF

Medical Office Condominium – 4,215 sq. ft.

17. LINDA FROST, TRUSTEE OF TRAVEL TRUST Closed March 24, 1998.

Physical Therapy Associates of Lee County, Inc. CAP RATE: 9.7%

120 N. Del Prado Blvd, Cape Coral, FL LEASE TERM: 7 YEARS

4,000 sf medical building, $77.25 psf price

16. VIC PALUCK (Local Developer) – Closed Oct. 997. CAP RATE: 10.4%

Sale/Lease Back: office condo $105 psf LEASE TERM: 5 YEARS

6338 Presidential Court, #101 & 102, Ft. Myers, FL RENTAL RATE: $11 PSF NET

15. DR. MICHAEL SPELLMAN – Closed August 1997. CAP RATE: 9. 75%

Medical Sale/Lease Back Price $125 psf LEASE TERM: 5 YEARS

1688 Medical Lane, Ft. Myers, FL RENTAL RATE: $12.19 PSF NET

14. DR. AURELIO – Closed July 1997. CAP RATE: 10 %

Medical Sale/Lease Back: LEASE TERM: 7 YEARS

12734 Kenwood Lane RENTAL RATE: $14.00 PSF NET

Fort Myers, Florida SALES PRICE: $140.00 PSF

13. ALTAMURA MARSH & ASSOCIATES (Insurance Company) – Closed July 1997.

Sale/Lease Back : Rent $11 psf NNN Sales Price: $110 PSF

6338 Presidential Court (2nd floor – no elevator) CAP RATE: 10%

Ft. Myers, FL LEASE TERM: 5 YEARS

12. M.C. B. & G. PARTNERSHIP – Closed July 1997. SALES PRICE: $125.00 PSF

Winkler Road, Fort Myers, Florida $13.50 psf CAP RATE: 11%

Medical Office Condominium – 1,200 sq. ft. LEASE TERM: 3.5 YEARS

11. MARK ALEXANDER, TRUSTEE – Closed June 1997. CAP RATE: 10%

Medical Sale/Lease Back, Bottle Brush Center LEASE TERM: 10 YEARS

3660 Central Avenue, Ft. Myers $44.69 psf Rental Rate: $4.47 psf

10. BAYLIGHT FORT MYERS PARTNERSHIP Closed April 1997.

6360 Presidential Ct, Ft. Myers, FL CAP Rate: 11%

Medical & General office tenants. $108 psf Rental Rate: $12.00 psf net

9. BECHARD CONSTRUCTION – Closed Sept. 1996. CAP RATE: 10%

Brantley Road Property, Oral Surgery Building LEASE TERM: 8 YEARS AND 3 YEARS

Fort Myers, Florida Price: $107.71 psf RENTAL RATE: $11.50 PSF NET

8. CHARTER HOME FUNDING (Paul Iverson) Closed September 1996.

Sale Lease/Back: Price $110 psf CAP Rate: 10%

6338 Presidential Court, Ft. Myers $11 psf NNN Lease Term: 5 years

7. SHEPPARD, BRETT & STEWART – Closed Jan 1995. CAP Rate: 10%

Sale/Lease Back: Law Building 7188 SF Lease Term: 10 years

West First Street, Ft. Myers, FL $80 psf Rental Rate: $8 psf net

6. Chris Hoek, DDS & Steven Anderson, DDS CAP Rate: 9.6%

Oral Surgeons: 4400 sf building Rental Rate: $9.64 psf

Medical Sale/Lease Back, Closed July 1994 Sales Price $510,000

5. VAN SPEAS, DDS – Closed May 1994. CAP Rate: 10%

Medical Sale/Lease Back $120 psf Lease Term: 5 years

Medical Lane, Ft. Myers 2,442 sf Rental Rate: $12 psf net

4. STEVEN PALETSKY, MD – Closed August 1993. LEASE TERM: 6 YEARS

Medical Sale/Lease Back: 10.2% cap rate SALES PRICE: $113 PSF

3822 Broadway, Ft. Myers, FL 7,229 sf RENTAL RATE: $11.62 PSF

3. William NEVANS, DDS – Closed April 1993. CAP Rate: 10%

Medical Sale/Lease Back: 5-Year Term Sales Price: $100 psf

Broadway, Ft. Myers, FL Rental Rate: $10 psf net

2. MARVIN Porter, MD Dermatology Group CAP Rate: 11.5%

Closed September 1992: Medical Sale/Lease Back Lease Term: 5 years

Central Avenue, Fort Myers, Florida $87 psf Rental Rate: $11 psf net

1. T.T. CORPORATION – Closed July 1988. SALES PRICE: $2.85 MILLION

Sale/Lease Back, 30,625 SF Building CAP RATE: 10%

3434 Hancock Bridge Parkway RENTAL RATE: $8 PSF NET

North Fort Myers, Florida LEASE TERM: 15 YEARS

Contact

Mark Alexander, CCIM
Medical Office Brokerage
325 South Biscayne Boulevard, Suite 819
Miami, Florida 33131
Cell 239-826-4174

mark@markalexanderccim.com