Bear Real Estate Advisors Represents Eye Surgery Associates in Sale of South Carolina Medical Office Building for $7.35M
Wednesday, June 26th, 2019
Bear Real Estate Advisors announced that the national real estate investment services firm represented Dr. Sam Seltzer of Eye Surgery Associates in the sale of a nearly 20,000-square-foot medical office building in Florence, South Carolina. The property was purchased by Block Funds for $7.35 million.
"This single-tenant investment property is on a long-term lease and is occupied by one of the most highly regarded ophthalmology practices in the Carolinas," said Matt Bear, founder and chief executive officer of Bear Real Estate Advisors and lead broker on the sale. "It also benefits from its real estate asset class as a medical property, which is in high demand due to the aging of America. We are pleased to have closed this sale and continue our lasting relationship with many of the players involved."
The medical office building is situated on approximately 3.5 acres of land located at 400 N. Cashua Drive.
"This is the fourth building that Matt Bear has sold to our firm and we look forward to continuing our relationship with additional high-quality properties in the future," said Steve Bessenbacher of Block Real Estate Services. "Matt and his team's keen ability to manage all of the deal participants and keep everything moving forward makes him stand out from his peers."
The property is 100 percent occupied by Carolina Centers for Sight, a North and South Carolina medical/surgical ophthalmology practice. Carolina Centers for Sight is a partner of Eye Health America, which leases the building on a 15-year term.
Dr. Seltzer is a board-certified ophthalmologist, a Fellow of the American Board of Ophthalmology, a Diplomate of the National Board of Medical Examiners, a member of Alpha Omega Alpha National Honor Medical Society and a member of the American Society of Cataract and Refractive Surgery. He has designed instruments for microscopic ophthalmic surgery. Dr. Seltzer is also an investigator for a number of ophthalmic clinical research trials being conducted at Carolinas Centers for Sight, P.C.
"The Bear Real Estate Advisors team worked relentlessly to find the best buyer for our sale and was meticulous in detail throughout the course of the transaction," said Dr. Seltzer. "I highly recommend Matt Bear to anyone who is considering the sale of medical real estate."