Press Releases
Marcus & Millichap Arranges Sale of NN-Leased Medical Property in Leesburg
April 07, 2025
LEESBURG, Fla., April 7, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a Heartland Dental property in Leesburg, Florida. The asset traded for $2,320,000.
“We are seeing momentum, deal flow and optimism in the market again,” said Don McMinn, senior managing director. “Demand for net lease is increasing as more investors are coming off the sidelines. Deals are trading quicker and tighter on the bid-ask spread. We are currently marketing two additional Heartland Dental properties in Cape Coral, Florida, and McDonough, Georgia.”
McMinn and Andrew Koriwchak, investment specialists in Marcus & Millichap’s Atlanta office, represented the seller, a Florida-based developer. Tarek Chbeir and Rachel Riseden, from the firm’s Orlando and Jacksonville offices, secured the buyer, a local private investor. Ryan Nee is Marcus & Millichap’s broker of record in Florida.
Located at 27417 U.S. Highway 27, the 4,296-square-foot building sits at the signalized intersection of U.S. 27 and Benning Road, at the entrance to a Winn-Dixie and adjacent to a Publix-anchored center. The property is surrounded by ongoing development of national retailers, including Taco Bell, Wendy’s, Dollar Tree and Take 5 Oil Change, and benefits from visibility to nearly 60,000 vehicles per day.
Heartland Dental is the largest dental support organization in the U.S. with more than 1,750+ offices in 39 states and over 2,800 doctors. The property is secured by a corporate-guaranteed, 10-year double-net lease with rent increases and extension options.
“We are seeing momentum, deal flow and optimism in the market again,” said Don McMinn, senior managing director. “Demand for net lease is increasing as more investors are coming off the sidelines. Deals are trading quicker and tighter on the bid-ask spread. We are currently marketing two additional Heartland Dental properties in Cape Coral, Florida, and McDonough, Georgia.”
McMinn and Andrew Koriwchak, investment specialists in Marcus & Millichap’s Atlanta office, represented the seller, a Florida-based developer. Tarek Chbeir and Rachel Riseden, from the firm’s Orlando and Jacksonville offices, secured the buyer, a local private investor. Ryan Nee is Marcus & Millichap’s broker of record in Florida.
Located at 27417 U.S. Highway 27, the 4,296-square-foot building sits at the signalized intersection of U.S. 27 and Benning Road, at the entrance to a Winn-Dixie and adjacent to a Publix-anchored center. The property is surrounded by ongoing development of national retailers, including Taco Bell, Wendy’s, Dollar Tree and Take 5 Oil Change, and benefits from visibility to nearly 60,000 vehicles per day.
Heartland Dental is the largest dental support organization in the U.S. with more than 1,750+ offices in 39 states and over 2,800 doctors. The property is secured by a corporate-guaranteed, 10-year double-net lease with rent increases and extension options.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
