A Healthy Trend For Off-Campus Offices

Off-campus university and medical related office growth continues with another recent example in Tampa: ESJ Capital Partners announced the $18 million sale of University Park Business Center, a 99,154 square foot office campus at 4001 East Fowler, directly across from the University of South Florida.

“Privately owned office space, versus public university facilities, can cater specifically to a medical tenant’s build-out or custom, accessible university research space with plentiful parking and flexible lease terms,” Matthew Fuller, Chief Investment Officer of ESJ Capital Partners, told GlobeSt.com

“Public university administrators and researchers are taking advantage of medical/office spaces thanks to the benefits presented from private capital build-outs,” he says. ”Hospital systems and universities continue to expand to off-campus locations for additional amenities, professional exposure and access for students and staffers in a dedicated space so public funds may remain on campus.”

University Park directly across from the University of South Florida is situated within one mile of four major hospitals.

The property is occupied by Quest Diagnostics, Moffit Cancer Center and USF.

ESJ acquired University Park in 2010 and repositioned the property with consumer-focused medical service tenants. ESJ Capital Partners, LLC is a full-service investment management firm based in Aventura. The firm currently has interests in over 600,000 square feet of medical and suburban office in the Southeast US.

Source: GlobeSt.