West Palm Beach Medical Office Sells For $6.3 Million
The two-story, 25,453-square-foot medical office sold to 1460 Russell Road Associates, LP.
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The two-story, 25,453-square-foot medical office sold to 1460 Russell Road Associates, LP.
The rollback of the Certificate of Need (CON) law creates growth opportunities for health systems that could lead to big capital spending on construction and medical equipment, while boosting access to health care in neighborhoods without enough providers.
The facility will be built on about four acres on John Young Parkway near the intersection of Osceola Park Drive.
The campus will feature a five-story, 365,000-square-foot hospital with 110 private rooms and a two-story, 60,000-square-foot medical office building.
The 38,537-square-foot portfolio was 88.2% leased with a weighted average lease term of over 5.5 years.