Karen Arbutine & Associates

$20M Lake Mary Medical Office Project Construction Starting Soon

Thu, May 06, 2010 at 3:23PM

Mariner Asset Management Services LLC plans to build a $20 million, 72,000 sq. ft. medical office complex dubbed Heathrow Health City within the next few months.  The locaton is County Road 46A, east of Rinehart Road.  Construction could begin by late second quarter or early third quarter of this year.  The project should be completed by mid to late 2011, pending finalizing the lease agreement.  General contractor PCL Constructors Inc. will seek subcontractors for the project sometime soon.

The Lake Mary office submarket had a 16.4 percent vacancy rate in the first quarter of 2010, compared with a 12.1 percent vacancy rate for the same period in 2009.





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