Tower Road Professional Center
VA Center | Heartland Dental | Below Market Rents | High Accessibility
Marketing description
Matthews Real Estate Investment Services is pleased to exclusively offer the opportunity to acquire a multi-tenant medical office investment in Gainesville, Florida, occupied by a diversified mix of healthcare and service-oriented tenants including the United States Department of Veterans Affairs and Heartland Dental.
The property offers stable in-place cash flow supported by durable healthcare tenancy and a long operating history. The VA has operated from the property for over a decade, while Heartland Dental recently exercised its first five-year renewal option through 2031, reinforcing long-term commitment to the location.
The asset benefits from below-market in-place rents, providing future upside through renewals and mark-to-market opportunities, while the smaller suite sizes offer strong leasing flexibility and reduced rollover risk.
Strategically located near North Florida Regional Medical Center, the University of Florida, and Butler Plaza, the property benefits from strong healthcare demand drivers, continued residential growth, and excellent accessibility throughout the Gainesville market.
Investment highlights
- Low Basis Medical Investment: The property offers investors an attractive basis relative to replacement cost and newer medical product throughout Florida, providing long term downside protection and future leasing flexibility.
- Replaceable Rents: Current rental rates remain below market relative to comparable medical space in the corridor, supporting tenant retention and reducing relocation risk while still providing future upside through renewals and rent growth over time.
- Flexible Usages: The suite sizes are highly functional and easily releasable compared to larger medical buildings, helping widen the future tenant pool and reduce downtime risk if space ever becomes available.
- Established Medical Buildout: The property has operated as a medical and healthcare focused asset for years and includes existing infrastructure and layouts that would be costly and time consuming for future tenants to replicate elsewhere.
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