Cushman & Wakefield Arranges Sale of Miami-Area MOB

By Alex Ciorogar

1300 Newport Center Drive

The University of Miami has acquired 1300 Newport Center Drive, a 55,300-square-foot medical office building for $8.2 million located in Deerfield Beach, Fla. Cushman & Wakefield Executive Director Richard Etner, Director Matthew McAllister and Associate Merritt Etner led the team that negotiated the transaction on behalf of the seller, Orhan Karakaya.

Built in 1993, the asset is located on a five-acre site. The facility is designed to house a medical lab and office space. According to Cushman & Wakefield, the property is currently vacant.

Common-area amenities include:

• 221 parking spaces
• controlled access
• 20-foot ceilings
• one dock-high loading door

“A dearth of available, infill development sites in Broward County and 1300 East Newport Center Drive’s proximity to the University of Miami’s existing Sylvester cancer care center were unique drivers in this transaction which will ultimately grow UHealth’s footprint in Broward County,” said McAllister in prepared remarks.

The University of Miami Health System’s Sylvester Comprehensive Cancer Center Deerfield Beach facility, a cancer care center, is located nearby. Interstate 95 and State Road 91 are both easily accessible from the property.

Image courtesy of Yardi Matrix