Richard F. Etner, Matthew G. McAllister, Chris Metzger, Christopher Thomson and Merritt Etner Represented 1300 Newport Center Drive, LLC in the Sale of a 55,000-Square-Foot Medical Office Building to the University of Miami
DEERFIELD BEACH, FL, March 7, 2018 — Cushman & Wakefield has negotiated the sale of 1300 East Newport Center Drive, a 55,000-square-foot medical office building in the Newport Center office park.
The Cushman & Wakefield team of Richard F. Etner Jr., Matthew G. McAllister, Chris Metzger, Christopher Thomson and Merritt Etner negotiated the sale on behalf of 1300 Newport Center Drive, LLC. The University of Miami acquired the building for $8.2 million.
1300 East Newport Center Drive is a 55,000-square-foot, freestanding building configured for medical lab and office space. The building was developed in 1993 and features 221 parking spaces, 20-foot ceilings and one dock-high loading door. The facility, formerly occupied by Quest Diagnostics, is currently vacant.
1300 East Newport Center Drive is located on a five-acre site just south of the of the University of Miami Health System’s (UHealth) Sylvester Comprehensive Cancer Center Deerfield Beach facility, a complete cancer care center serving Broward and Palm Beach County residents at 1192 East Newport Center Drive. This location offers excellent visibility with Interstate 95 frontage and convenient access to Florida’s Turnpike, less than three miles to the west.
“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.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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