For over four decades, he has actively excelled in the commercial real estate industry, gaining knowledge and expertise across retail, office, medical leasing, land assemblage, acquisitions/dispositions, and development.
Memorial Healthcare System paid $49 million for the property with plans to redevelop the property into “a wellness hub.”
An estimated $566 billion of debt maturities are coming due across the sector over the next five years.
The property consists of 1.61 acres of land and a 13,986-square-foot medical office that will be Blue Cloud Pediatric Surgery Center’s newest Florida location.
“The market is a shifting from a Seller’s market to a market-in-equilibrium and depending on future interest rate increases, it could shift to a Buyer’s market,” commented Osborne. “Demand is high for all asset classes and certain property types that are harder to locate and in demand and are trading quickly at top values like the 1771 S State Road 7 property.”
CBRE’s Brian McDonnell, Bill Sheehy, and Thomas Haughton represented TransLoop in the transaction. CBRE’s John Criddle, Joe Freitas and Allie Lancashire represent the landlord, Ivy Realty.
JLL represented the seller and procured the buyer.
The company began as a property management firm and remained solely focused on property management for the first years. Now, as one of the largest independently owned and operated commercial real estate brokerage and property management firms in South Florida, the company has grown to 45 employees with two offices in two counties, currently averaging approximately 300 brokerage transactions each year for a total volume of roughly $400 million.
With over 16 years of experience in the real estate industry and a track-record as a top producer, he has negotiated more than seven million square feet of leased office space for clients that span over 1,000 transactions, which involved strategic real estate planning, workplace strategy, financial consulting and transaction management.
The building features 10,000 square feet of restaurant and retail space on the ground floor, five parking levels and five floors of luxury offices. The condo units run from 1,097 – 6,618 square feet, with 57 units available.