Palm Beach County Medical Office Building Sells For $13M

A medical office building near Lake Worth Beach sold for $12.61 million.

Palm Beach MOB LLC, managed by Steven P. Wathen in Hilliard, Ohio, sold the 31,847-square-foot medical office at 7408 Lake Worth Road to PrimeMed Lake Worth LLC, managed by Christoper Montello, the president of Aventura-based PrimeMed Manager Corp.

TD Bank provided an $8.83 million mortgage to the buyer.

The price equated to $396 per square foot.

The office building was completed on the 1.8-acre site in 2009. This is the first time it has sold.

According to the deed, tenants include CL Brumback Primary Care Clinics, Dr. Jefferey L. Katzell, PSHS Alpha Partners, Sports Care Institute and Imaging Center Management.

 

Source:  SFBJ

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