Institutional Property Advisors Facilitates Broward County Office, Mixed-Use Asset Sale
The property sold for $40 million.
The property sold for $40 million.
Florida Medical Space developed Gateway Medical Plaza in 2021 to meet the needs of a long-time client who was looking for a new, state-of-the-art headquarters to relocate its fertility center.
Upon completion of the MOB, NAI Miami | Fort Lauderdale will serve as the exclusive leasing representative.
The property is currently improved with the Aventura Offices and Medical Center, a two-story office and medical office building totaling about 37,000 square feet.
The new division is led by Director of Commercial Real Estate Shane McCain.
Nelson Garcia of RARE CRE represented the seller in the acquisition. Michael Basinski and Mitch Sinberg of Berkadia Boca Raton arranged a $31.75 million acquisition loan through City National Bank.
Cleveland Clinic will be the facility’s anchor tenant, occupying the entire 34,000-square-foot first floor.
The 36,041-square-foot facility is currently 63.4% leased, with 88% of the occupied space dedicated to healthcare users.
The property totals 366,036 square feet on 22 acres.
The two projects total 302,000 square feet across Fort Lauderdale and Deerfield Beach, with delivery expected in 2027.
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