Location: 1287 US 41 Bypass South, Venice, Florida 34285
Property: The property consists of 4.2 acres and is improved with a 19,467 Square Foot (SF) multi-tenant medical office building consisting of two tenants, the Heart and Vascular Center of Venice (HVCV) and Sarasota Memorial Hospital.
Receivers Duties: Act as landlord during the foreclosure process, involved in negotiating new leases with current tenants, collect rent, market unoccupied tenant space, maintain common area, evict prime tenant, and report financial performance.
The Receiver transitioned to a role of Property Manager, and is currently in the process of facilitating a sale of the asset to an investor.
Lender: Northern Trust