The $244-per-square-foot transaction underscores the attractiveness of medical office assets as overall office sale activity has slowed.
Avison Young’s Florida Capital Markets Group negotiated the sales.
The asset was the second of the seller’s 100% occupied, two-building portfolio to sell within three months, both sales totaling $17.2 million.
The asset totals 259,458 square feet on 14.31 acres in Broward County’s Cypress Creek submarket. CLICK ON THE HEADLINE FOR MORE
The building last sold for $10,900,000 in December 2012. CLICK ON THE HEADLINE FOR MORE
Avison Young Principals David Duckworth; John K. Crotty, CCIM; and Michael T. Fay; Greg Martin; and Senior Associate Brian de la Fé completed the transaction on behalf of the seller. CLICK ON THE HEADLINE FOR MORE
On behalf of the seller, Avison Young Principals David Duckworth; John K. Crotty, CCIM; Michael T. Fay; Greg Martin; and Senior Associate Brian de la Fé; facilitated the disposition to The Green Companies. CLICK ON THE HEADLINE FOR MORE
The change in ownership is expected to add 70 employees from Collier’s Miami, Fort Lauderdale and Palm Beach offices to Avison Young’s operations. CLICK ON THE HEADLINE FOR MORE
The 75,000-square-foot building was last purchased for $5.15 million in 2006. CLICK ON THE HEADLINE FOR MORE
