Cushman & Wakefield Reps ShareMD In Sale Of Two South Florida Medical Office Buildings

Cushman & Wakefield represented ShareMD in the sale of medical office buildings (MOB) in Fort Lauderdale and Boynton Beach.

Cushman & Wakefield’s Scott O’Donnell, Mike Ciadella, Greg Miller and Miguel Alcivar, along with Cushman & Wakefield Healthcare Capital Markets advisors Gino Lollio and Travis Ives, represented ShareMD in the sale of the two properties to Echo Real Estate. This is Echo Real Estate’s first acquisition in South Florida.

In Boynton Beach, 2828 S. Seacrest Blvd. sold for $6.9 million and totals 31,747 square feet. The property is directly adjacent to Bethesda Hospital East. ShareMD paid $6.45 million in an off-market deal that closed May 2021.

In Fort Lauderdale, 5353 N. Federal Highway sold for $4.55 million. The 28,277-square-foot, four-story building is predominantly leased to medical-office users.

“Both of these properties offer a compelling value-add component that tracks with South Florida’s growth and demographics,” said O’Donnell, Cushman & Wakefield Executive Managing Director. “2828 S. Seacrest is one of only three medical office buildings adjacent to Bethesda Hospital East, operated by Baptist Health, a 401-bed acute-care center with South Florida’s most prominent healthcare provider. For its part, the continued repositioning of 5353 N. Federal Highway to full MOB-use could unlock significant value through strategic transformation and greatly enhance net operating income given the strong local demand from healthcare providers.”