Boynton Beach, Fla.—NGKF Capital Markets recently announced the $14.5 million sale of Boynton Beach Medical Plaza, a two-story, multi-tenant medical office building located in Palm Beach County.
NGKF Capital Markets Executive Managing Director Adam Greenberg and Managing Director Michael Lohmann represented the seller, Boynton Beach Medical LLC, a South Florida medical practice group. Ohio-based Woodside Health LLC was the buyer. At the close of escrow, the building was approximately 90 percent occupied with several long-term leases.
“The primary demand driver for this transaction is a need for medical properties in South Florida close to the ever-growing South Florida community,” said Greenberg. “This transaction traded at a premium value due to having a great balance of in-place diversity of tenants, as well as positioning its standing as an established medical building.”
Built in 2007, the Class A building situated at 10151 Enterprise Center Blvd. in Boynton Beach spans approximately 50,684 square feet near Bethesda Hospital West. The property offers convenient access to Interstate 95 and Florida’s Turnpike.
Photo courtesy of NGKF