Two Broward Boutique Medical/Professional Office Buildings Sell For $15.25 Million
Cushman & Wakefield has arranged the sale of The Centre at Stirling & Palm, two boutique medical and professional office buildings located in Cooper City.
The final sale price was $15.25 million.
Scott O’Donnell, Greg Miller, Mike Ciadella, Dominic Montazemi and Miguel Alcivar of Cushman & Wakefield represented the seller, The Centre at Stirling & Palm, Inc., in the transaction. ATCG LLC acquired the property and was represented by Cushman and Wakefield’s Jason Hochman in sourcing a $9.35 million acquisition loan.
“At 93.5% occupancy, investors had the opportunity to acquire a secure in-place and on-going income stream that continues to outperform the broader submarket,” O’Donnell said. “Recent leasing through the pandemic saw rents increase by 4% on average while maintaining the exceptional occupancy levels the property is accustomed to enjoying.”
Located at 9900 and 10000 Stirling Road, the buildings total 64,436 square feet. Proximity to both to Interstate 75, Interstate 595 and Florida’s Turnpike offers excellent access to all of South Florida and a full range of nearby amenities.
The property consistently receives strong demand from medical tenants due to its proximity to four of Memorial Healthcare System’s top performing regional hospitals and Nova Southeastern University’s Sanford L. Ziff Medical Center, resulting in over 2,300 hospital beds within a 10-mile radius.
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