West Palm Beach Medical Office Sells For $6.3 Million
Colliers South Florida recently closed on the $6.3 million sale of 4601 N. Congress Avenue in West Palm Beach.
The two-story, 25,453-square-foot medical office sold to 1460 Russell Road Associates, LP. Colliers South Florida Investment Services Team Mark M. Rubin, Executive Managing Director, and Bastian Laggerbauer, Director, represented the seller, 4601 North Congress, LLC, in the transaction.
4601 N. Congress is an on-campus, multi-tenant medical office building, not encumbered by a ground lease.
“As medical care is an essential service, coupled with South Florida’s favorable demographics, medical office opportunities remain a highly coveted asset class by investors,” said Rubin.
“Strategically located just off I-95 in the HCA owned and operated JFK Medical Center North Campus on the corner of Congress Avenue and 45th Street, the medical office building was 88 percent leased at the time of sale,” Laggerbauer added.
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