{"id":1951,"date":"2020-01-24T10:30:34","date_gmt":"2020-01-24T15:30:34","guid":{"rendered":"https:\/\/www.meyer.media\/?p=1951"},"modified":"2020-01-24T10:30:34","modified_gmt":"2020-01-24T15:30:34","slug":"cushman-wakefield-negotiates-24-3m-sale-of-gardens-medical-pavilion","status":"publish","type":"post","link":"https:\/\/www.meyer.media\/2020\/01\/24\/cushman-wakefield-negotiates-24-3m-sale-of-gardens-medical-pavilion\/","title":{"rendered":"Cushman & Wakefield Negotiates $24.3M Sale of Gardens Medical Pavilion"},"content":{"rendered":"
\"Gardens<\/a>
Gardens Medical Pavilion<\/figcaption><\/figure>\n

Scott O\u2019Donnell, Michael Ciadella, Dominic Montazemi, Greg Miller, Miguel Alcivar, Anthony Librizzi and Michael Feldman Represented Gardens Medical Pavilion, LLC in the Sale of the \u00b175,424-Square-Foot Medical Office Tower<\/em><\/strong><\/p>\n

PALM BEACH GARDENS, FL, January 24, 2020<\/strong> \u2014 Cushman & Wakefield<\/a> has negotiated the sale of Gardens Medical Pavilion, a \u00b175,424-square-foot, Class A medical office tower in Palm Beach County.<\/p>\n

The Cushman & Wakefield Capital Markets team of Scott O’Donnell<\/a>, Michael Ciadella<\/a>, Dominic Montazemi<\/a>, Greg Miller<\/a> and Miguel Alcivar<\/a>, combined with Anthony Librizzi<\/a> and Michael H. Feldman<\/a> of Cushman & Wakefield\u2019s Brokerage Services, represented Gardens Medical Pavilion, LLC<\/a> in the disposition of the asset. Charlottesville, VA-based Anchor Health Properties<\/a> acquired the building for $24.3 million ($322 per square foot).<\/p>\n

Gardens Medical Pavilion is a five-story medical office tower developed in 1991 on a \u00b14.71-acre site at 3401 PGA Boulevard<\/a>. The asset features a porte-coch\u00e8re, an on-site Walgreens pharmacy and diagnostics lab, covered and underground parking for tenants, lushly landscaped grounds and prominent visibility along PGA Boulevard.<\/p>\n

Gardens Medical Pavilion is conveniently situated one-quarter mile east of Interstate 95 and less than three miles from Florida\u2019s Turnpike along PGA Boulevard, providing easy access for all of Palm Beach County\u2019s affluent population. The asset is strategically located within minutes of Palm Beach Gardens Medical Center, Jupiter Medical Center and the North County Surgery Center, which creates steady demand from numerous doctors and medical practices. The property is also within walking distance to premium amenities such as the 1.4-million-square-foot The Gardens Mall<\/a>, Legacy Place<\/a> and the District at the Gardens<\/a>.<\/p>\n

The building was 84.3% leased at the time of sale. Occupancy increased nearly 15 percent in the 18 months preceding the sale under the guidance of Gardens Medical Pavilion, LLC. Notable tenants include Florida Cancer Specialists, the University of Miami, Gastro Group of the Palm Beaches and Pediatric Partners.<\/p>\n

\u201cGardens Medical Pavilion is widely considered one of the premier medical office buildings in North Palm Beach County and is the only medical office building along PGA Boulevard,\u201d said O\u2019Donnell. \u201cThe property provided investors with a rare, value-add, Class A medical office opportunity with excellent leasing momentum and requiring only minor renovations in one of Palm Beach County\u2019s strongest micromarkets.\u201d<\/p>\n

About Cushman & Wakefield<\/strong><\/p>\n

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit\u00a0www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.<\/p>\n

Media Assets<\/strong><\/p>\n

Gardens Medical Pavilion Photo<\/a>
\nScott O\u2019Donnell Headshot<\/a>
\nMichael Ciadella Headshot<\/a>
\nDominic Montazemi Headshot<\/a>
\nGreg Miller Headshot<\/a>
\nMiguel Alcivar Headshot<\/a>
\nAnthony Librizzi Headshot<\/a>
\nMichael Feldman Headshot<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Cushman & Wakefield Capital Markets team of Scott O\u2019Donnell, Michael Ciadella, Dominic Montazemi, Greg Miller and Miguel Alcivar, working with Anthony Librizzi and Michael H. Feldman of Cushman & Wakefield\u2019s Brokerage Services, has negotiated the $24.3 million sale of Gardens Medical Pavilion, a Class A medical office tower in Palm Beach County.<\/p>\n","protected":false},"author":1,"featured_media":1935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[2723,2722,509,49,4,700,87,29,536,2721,144,113,2489,513,86,26,216,372,35,88,368],"class_list":["post-1951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr","tag-3401-pga-boulevard","tag-anchor-health-properties","tag-anthony-librizzi","tag-commercial-real-estate","tag-cushman-wakefield","tag-disposition","tag-dominic-montazemi","tag-florida","tag-gardens-medical-pavilion","tag-gardens-medical-pavilion-llc","tag-greg-miller","tag-medical","tag-michael-ciadella","tag-michael-feldman","tag-miguel-alcivar","tag-office","tag-palm-beach-county","tag-palm-beach-gardens","tag-sale","tag-scott-odonnell","tag-south-florida"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.meyer.media\/wp-content\/uploads\/2020\/01\/gardens-medical-pavilion-scaled.jpg?fit=2560%2C1707&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p79IL5-vt","_links":{"self":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/comments?post=1951"}],"version-history":[{"count":1,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1951\/revisions"}],"predecessor-version":[{"id":1952,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1951\/revisions\/1952"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media\/1935"}],"wp:attachment":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media?parent=1951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/categories?post=1951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/tags?post=1951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}