After recently moving its worldwide headquarters to Fort Lauderdale from outh Lake, Texas, medical air transportation company MASA Global has acquired an office building in Plantation for $12.85 million.
Cornerstone Condominium Investors, managed by Stacey Vogel, sold the 61,362-square-foot office building at 1250 S. Pine Island Road to MASA Property Management, an affiliate of MASA Global. (MASA stands for Medical Air Services Association.) The buyer received a $10.5 million mortgage from Valley National Bank.
The price equated to $209 a square foot.
The office building was constructed on the 2.1-acre site in 2008. It’s just north of busy Interstate 595.
MASA Global’s interest in Broward County was revealed in April 2017, when the Business Journal wrote that the company – under the name “Project Bogey” – filed a job growth incentive application to open an office in Fort Lauderdale. At the time, its headquarters were in South Lake, Texas.
State records show that, in August 2017, MASA Global was approved for up to $210,000 in Qualified Target Industry (QTI) incentives from the state and local governments, should it meet the goal of creating 35 jobs in Broward with an average wage of $71,789. Those jobs must be maintained through 2022.
Maggie Gunther, spokesperson for the Greater Fort Lauderdale Alliance, which helped MASA Global reach the QTI deal, said the project was approved for Fort Lauderdale and no incentives have been paid out to date.
On its website, MASA Global’s worldwide headquarters is now listed as 101 N.E. Third Ave., Suite 1600 in Fort Lauderdale. It still has a membership office in South Lake, Texas. The company has over 1 million members worldwide who depend on it to fly them to medical centers for emergency care. Many of its satellite offices are in Latin America and the Caribbean, which are easily reachable through South Florida airports.
Source: SFBJ
