Remedy Medical Properties Breaks Ground On Two Medical Outpatient Developments
The two projects total 302,000 square feet across Fort Lauderdale and Deerfield Beach, with delivery expected in 2027.
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The two projects total 302,000 square feet across Fort Lauderdale and Deerfield Beach, with delivery expected in 2027.
The sale marks the largest non-mall retail transaction recorded in South Florida since 2017.
The sale price equates to more than $410 per square foot.
The deal represents a significant expansion from Terrabank’s previous 27,068-square-foot office on Coral Way.
The triple net lease is for 11,000 square feet.
The sale marks a substantial increase in value from the portfolio’s previous trade in 2016, when it sold for $77.25 million.
The deal was handled exclusively by CBRE’s Larry Genet, Tom O’Loughlin, Michael Oretsky, Devin White, Jose Lobon and David Albert.
The two-story retail property spans 128,779 square feet and occupies nearly an entire block along one of the country’s most exclusive shopping streets.
CBRE’s Tyler Kuhlman, Luke Hansen and C’jon Armstead represented the sellers as well as the buyer in the transaction.
The Florida City property is a fully leased multi-tenant retail center anchoring a mix of service-oriented businesses.
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