Doctor group buys Manatee County land for expansion

LAKEWOOD RANCH -- Rangeland MOB LLC, led by family practitioner Dr. John Steel of Intercoastal Medical Group, purchased 2.9 acres at the northeast corner of Rangeland Parkway and Lakewood Ranch Boulevard for $1.85 million.

The price equated to $631,399 per acre. That figure is lower than the two-year average price per acre for office space, $1.18 million, in the Tampa Bay area, according to the CoStar Group.

Fred M. Starling Inc. was hired as development manager/general contractor to construct a 25,000-square-foot, two-story medical office building with 160 parking spaces on the site. The building will feature physician offices, exam rooms, diagnostic and imaging equipment, labs and facilities for physical therapy.