Store Capital fund buys AnazaoHealth building

Store Capital fund buys AnazaoHealth building
BUYER: Store Master Funding VII LLC, Scottsdale, Ariz.
SELLER: 5710 Hoover LLC
PROPERTY: 5710 Hoover Blvd., Tampa
PRICE: $7.65 million
PREVIOUS PRICE: $2.81 million, August 2002
LAW FIRM ON DEED: Kutak Rock LLP, Denver

PLANS, DESCRIPTION:
An affiliated fund of Scottsdale, Ariz.-based Store Capital purchased the 45,284-square-foot AnazaoHealth building for $7.65 million.

The price equated to $169 per square foot.

The specialty compounding pharmacy primarily uses the building as its Tampa lab. The building features 10,000 square feet of clean room space, 8,000 square feet devoted to nuclear pharmacy and another 7,700 square feet for a pain-management pharmacy.

Store Capital is a real estate investment trust that specializes in buying properties and leasing them back to operators. AnazaoHealth agreed to lease the building for at least the next 11 years. The purchase price equated to a payoff ratio based on income (capitalization rate) of around 8%.