Medical Mile mixed-use development sells

A 135,000-square-foot mixed-use development along the Medical Mile on South National Avenue sold this month.

Kelly Plaza, home to 30 tenants across seven buildings, sold Aug. 15, according to listing agent Mike Fusek of Sperry Van Ness Rankin Co., who brokered the sale. The plaza is roughly 85 percent leased with tenants including Mercy, Cox HealthPlans, First Call Medical Staffing, Good Shepherd Hospice, ITT Technical Institute, Strategic Fundraising Inc. and Zimmer US Inc. Fusek said current tenants would not be affected by the sale.

The property was sold by Rocos LP, a company owned by former Springfield businessman Larry Kelly, who Fusek said moved from the city and sold the building to work toward retirement. Fusek declined to disclose the buyer, but confirmed the purchasing entity was LG III LLC.

Built in 2000, Kelly Plaza was listed for $19 million. Fusek declined to disclose the purchase price.

Kelly Plaza stretches across 19 acres at 3200 S. National Ave., according to the property listing. Its taxable appraised value as of Jan. 1 was $7.4 million, according to Greene County assessor records.[[In-content Ad]]