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South Tampa office building sells to health care consultant SoMac
Tampa Bay Business Journal
Published: May 12, 2010

A health care consultant has acquired an almost finished Class A office building at 200 S. MacDill Ave., Tampa, in what a broker called "a friendly foreclosure.”

SoMac LLC paid $825,000 in December to Mercantile Bank for the mortgage on the 11,000-square-foot building and the company recently completed the foreclosure to take possession of the property, said T. Sean Lance, president of the NAI Tampa Bay Troubled Asset Optimization team.

SoMac will occupy about half the building and lease the remaining portion, Lance said.

The seller was a limited liability company controlled by High Point Development of Tampa. That entity obtained a $1.6 million mortgage to buy the land and construct the building several years ago, Lance said.

The buyer is obtaining permits to complete construction and expects to move into its new space within 60 to 90 days, he said. The building is about 80 percent complete.




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