Laramar Group Acquires 31,158-SF Medical Office Building in Lakeland, FL

Vista Medical Center is 95% Leased and Provides Proximity to Hospital Campuses

The Laramar Group completed the acquisition of the 31,158-sf Vista Medical Center at 3035-3133 Lakeland Hills Blvd. in Lakeland, FL. The property is located in a high-demand medical corridor just south of Interstate 4 and in close proximity to the 910-bed Lakeland Regional Medical Center and multiple other medical providers.

This is the third acquisition for the Laramar Medical Properties Fund II and the firm’s thirteenth medical office building in Laramar’s expanding healthcare real estate portfolio.

“Vista Medical Center provides robust long-term growth potential given its stable tenant base, high submarket occupancy, below market rents and location within central Florida’s dynamic population and employment growth corridor,” said Ben Slad, Chief Investment Officer for Laramar. “This property is well positioned to support continued rent growth and property appreciation.”

Lakeland has become one of the fastest growing markets in the country and is poised for continued growth. Lakeland recorded a 12% population growth rate between 2020 and 2023 and is projected to grow by more than 9% over the next five years. It offers proximity to Interstate 4 and is approximately 45 minutes from both Tampa and Orlando, the second and third largest metros, respectively, in Florida.

Select tenants in the building include Trinity Medical Group (Innovacare Health), Quest Diagnostics, Pediatric Health Choice, Select Physical Therapy, LabCorp, and Randolph’s Family Health. Additional medical providers in the area include Johns Hopkins Children’s Outpatient Care, Lakeland/Hollis Cancer Center and multiple Watson Clinic facilities and surgery centers.