Palm Beach County Site Could Be Rezoned For Medical Office Project
The developer is planning a 60,000-square-foot facility.
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The developer is planning a 60,000-square-foot facility.
The building hit the market unpriced in February, according to an online listing. Occupancy was 55 percent at the time with a net operating income of $1.2 million.
The Portfolio consists of three medical office buildings that are 97% leased.
The project could be one of the largest construction projects of 2021 in the Bradenton area.
The buildings, which total 64,436 square feet, were 93.5% occupied at the time of the sale.
The 43,885-square-foot building is anchored by a multi-specialty surgery center.
The building is anchored by JPMorgan Chase, but most of the tenants are medical use, including Advanced OBGYN Institute, Sweet Tooth Pediatric Dentistry and Zombek Orthodontics.
The health-care giant has grown its operation in Tradition significantly since acquiring Martin Health System, the owner of Tradition Hospital, nearly two years ago.
The first phase of construction, expected to be completed in 2023, will include building the first three floors of the tower.
Concept Companies recently broke ground on Ology Bioservices’ new space and anticipates completion in Summer 2021.
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