Charlotte's Advanced Imaging real estate sells for $4 million

BUYER: NL Ventures IX Tamiami LLC (manager: Peter Carlsen), Dallas
SELLER: Lambardar Inc.
PROPERTY: 2611, 2615, 2621, 2625, 2631 and 2635 Tamiami Trail, Port Charlotte
PRICE: $4.2 million
PREVIOUS PRICE: $4 million, October 2011

PLANS, DESCRIPTION:
Dallas-based investment fund AIC Ventures purchased the 17,104-square foot Advanced Imaging of Port Charlotte building for $4.2 million.

The price equated to $246 per square foot. That figure is higher than the two-year average price per square foot for office space ($112) in Southwest Florida, according to the CoStar Group.

The health care building is leased to the Mississauga, Ontario-based imaging company KMH Labs, which operates several other imaging facilities in the United States and Canada.
Krone Weidler and L.J. Tsunis in Marcus & Millichap's Tampa office handled the transaction.

Weidler says the high price per square foot, compared with more typical medical office space, stems from the building's uniqueness as an imaging center. The sale price equated to a pay off ratio based on income [capitalization rate] of 7.8%.