The property sold on May 23 for $3,800,000, equating to $89 per square foot on a 6.9% capitalization rate.
The ±42,481-square-foot asset has been owned and operated by the current owner since about 2005. This multi-tenant building offers tenants a variety of office solutions for both Medical and Professional uses.
“This medical/office building is well located for tenants, given its immediate access the Sawgrass Expressway, I-95, and Florida’s Turnpike, as well as the asset’s close proximity to University Hospital,” commented Robertson.
According to Robertson, quality assets like this are in demand. CRE Florida Partners is currently working with several buyers looking for similar assets in Broward and Palm Beach counties.
“Well-located medical office properties with strong occupancy rates continue to perform above market expectations,” added Rauch.
The brokerage company is also seeking leasing and investment sales professionals for its growing commercial real estate expansion in Miami-Dade, Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets, which offer a unique ground floor career opportunity to work closely with the firms Founder’s Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to firstname.lastname@example.org