For over four decades, he has actively excelled in the commercial real estate industry, gaining knowledge and expertise across retail, office, medical leasing, land assemblage, acquisitions/dispositions, and development.
Memorial Healthcare System paid $49 million for the property with plans to redevelop the property into “a wellness hub.”
An estimated $566 billion of debt maturities are coming due across the sector over the next five years.
The property consists of 1.61 acres of land and a 13,986-square-foot medical office that will be Blue Cloud Pediatric Surgery Center’s newest Florida location.
A study predicts 45% to 50% increases in Florida, including in inland areas — and a doubling of premiums won’t be out of the question.
Members of the Miami team include Senior Vice President Carlyle Coffin; Vice President of Acquisitions Mike Lisch; Head of Strategy and Analytics Jason Warren; and Business Operations Manager Teresa Sanzone.
CBRE Executive Vice President Gordon Messinger represented MAS^AJP, the owner and developer, in lease negotiations.
Healthcare real estate is often referred to as recession proof, and as many industries reduce their commercial footprint, medical groups and physicians are betting big.
The medical office building is leased long-term to the University of Miami (UM) Hospital.
The property, which was 100% occupied, closed on May 12 for $11 million.
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