Posts

950 1st St. South-Winter Haven 760x320

DSS, Inc., a multinational company with nine operating business lines in diverse, high-growth industries, announced its majority-owned subsidiary, American Medical REIT Inc. (“AMRE“), has acquired a tenanted 21,900-square-foot medical office building located at 950 1st St. South in Winter Haven.

Palm Medical Center, the primary tenant of the Winter Haven medical office building, leases nearly 19,000 square feet of the property and has six years remaining on its lease with three five-year options to renew. Rent increases to Palm are limited to 1% annually, and Palm has a first right of refusal on any vacant space at the Winter Haven medical office building. The amount Palm pays towards property taxes will freeze at the 2020 rate, and any future increases in property taxes above the 2020 rate will be absorbed by AMRE.

“While other areas within commercial real estate have been impacted by the ongoing pandemic, medical real estate has demonstrated considerable resiliency,” stated Frank D. Heuszel, DSS CEO. “We are thrilled to further expand our medical real estate operations with the addition of the Winter Haven facility to our growing AMRE portfolio. AMRE, launched in March 2020, now owns more than 380,000 sq. ft. of high-quality healthcare assets across the US, providing a formidable foundation for our operations as we seek to further accelerate growth and build long-term value for our shareholders.”