A recently redeveloped medical facility near the University of South Florida has changed hands for $53.55 million.

The 85,000-square-foot property at 5901 E. Fowler Ave. in Temple Terrace — formerly home to a Jewel Osco grocery store and later a Coca-Cola distribution center — was purchased by Chicago-based global real estate investment firm LaSalle Investment Management.

The building is now fully leased to the Florida Orthopedic Institute, following a major redevelopment by Alliant Partners Development, a Tampa firm that acquired the site in 2023 for $13.27 million.

Alliant transformed the property into a modern outpatient surgery and medical center featuring nine operating rooms, 60 exam rooms, advanced imaging technology, orthopedic urgent care, physical therapy, and administrative space.

“Alliant’s work to reimagine this building into a next-generation outpatient surgery center has been one of our proudest developments,” said Alliant partner Spencer Muratides.

He noted that Florida Orthopedic holds a long-term lease and full operational control of the facility.

LaSalle Investment Management operates in 24 cities across 13 countries, managing real estate investments globally. Ben Apple of Newmark represented Alliant Partners in the sale.

Source: Business Observer