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Easton & Associates advised a publicly-traded healthcare real estate investment trust (REIT) on the acquisition of a 32,758-square-foot medical office building in Tallahassee.

The REIT paid $9 million cash for the asset in an off-market deal that closed June 2.  The seller was Realco, a family office based in West Viriginia.

The two-story building, located at 1803 Miccosukee Commons Dr., was built for Tallahassee Primary Care Associates (TPCA) which currently occupies the entire space on a long-term lease.   TPCA is one of the largest primary care medical practices in Northwest Florida, employing more than 50 practitioners across the Florida panhandle and parts of Georgia.