The Oncology Institute Doubles Florida Locations With 7 New Medical Office Leases Totaling 25,000 SF
CBRE’s Dana Nialis, Angie Weber, Deborah Fink, and Carol Ellis-Cutler represented The Oncology Institute in lease negotiations.
CBRE’s Dana Nialis, Angie Weber, Deborah Fink, and Carol Ellis-Cutler represented The Oncology Institute in lease negotiations.
Christian Lee, Andrew Chilgren, Marcos Minaya and Sean Kelly of CBRE brokered the transaction on behalf of both the buyer and seller.
Native now operates from a Fort Lauderdale office that is double the size of its previous headquarters at 1926 E. Sunrise Blvd. in the city’s Victoria Park neighborhood.
The 223-acre project will feature 1.3 million square feet of retail and entertainment space, 4,000 luxury residential units, two hotels, and 1.35 million square feet of Class A office space.
One of the largest contiguous land sites available in South Florida, the development has a buildable program of 2,500 residential units, 240 hotel rooms, 480,000 square feet of retail space, and 650,000 square feet of office space.
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.
“The market is a shifting from a Seller’s market to a market-in-equilibrium and depending on future interest rate increases, it could shift to a Buyer’s market,” commented Osborne. “Demand is high for all asset classes and certain property types that are harder to locate and in demand and are trading quickly at top values like the 1771 S State Road 7 property.”
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