Medical office building in Lakewood Ranch sells for $3.6M

A fully occupied medical office building recently sold in Lakewood Ranch. Sina Holdings II LLC purchased the property at 8614 State Road 70 E. for $3.6 million, according to SVN Commercial Advisory Group, which brokered the deal.

The 14,400-square-foot building is within the Ranch Lake office and retail complex just east of Interstate 75. Spanning two stories, the property is fully leased to four medical tenants, including Rubino Periodontics & Implant Dentistry and Bradenton East Integrative Medicine (Innovacare).

The seller is Ranch Lake Plaza Inc., which is based at 13225 E. State Road 64, according to Manatee County property records. The company's address corresponds to CounTreeWide Realty, a firm that handles commercial and residential real estate in Manatee and Sarasota counties.

The buyer, Sina Holdings II LLC, is based in Sebring and managed by Bahram Ahmadi, according to Florida business records. The address for the LLC is consistent with Total Gastroenterology, a digestive health network with seven locations in the region where Ahmadi practices as a gastroenterologist. One of its practices is at 8610 State Road 70 E. in Lakewood Ranch, next door to the newly purchased building.

The new owner plans to keep the building at 8614 State Road 70 E. as a long-term investment property, according to a statement.

Lily Behrends of RE/MAX Alliance Group represented the buyer, while Tony Veldkamp and Matt Fenske from SVN Commercial Advisory Group represented the seller.

“Bradenton continues to attract medical users and investors alike,” Veldkamp says in a statement. “The fundamentals here are strong — rising employment, solid demand for health care space and a growing population all contribute to a resilient investment environment.”

SVN Commercial Advisory Group is a commercial real estate firm specializing in sales, leasing and advisory services across retail, office, industrial, land and investment properties. It has offices in Sarasota and Tampa.