Unique opportunity to acquire a significant “core-plus” asset
The Offering
CBRE, Inc., is the exclusive marketing broker for the sale of the Jupiter Medical & Technology Park (“Property”), located at 1701 Military Trail, Jupiter, Florida. The Property comprises a 185,000 SF medical and technology facility on a beautiful 16-acre corporate campus setting. The building was constructed in 1990 for Marquette Electronics, which was subsequently acquired by GE Medical Systems Information Technologies (GEMS) in 1999.
The Property is currently 92% occupied, with 45% of the building leased to GEMS and 34% of the building belonging to the owner-occupier, Florida Turbine Technologies (FTT). FTT is prepared to sign a five-year lease with the new Buyer upon sale at mutually agreed upon terms.
Investment Highlights
• Unique “core-plus” opportunity to acquire functional, state-of-the-art, medical and technology facility with stable cash flow, allowing for upside due to GE Medical Systems’ below-market rent and development potential for an additional 90,000± SF of building on the north end of the site
• Well maintained, attractive, high-quality corporate campus-style property featuring a scenic lake with central water fountain against a serene wetland preserve
• Strategic location less than one-mile from the 283-bed Jupiter Medical Center and within Jupiter’s active and growing life sciences hub
• Exceptional Jupiter demographics, including average household income of $92,316 and average housing value of $321,320 within a three-mile radius of the Property
• Owner-occupier, Florida Turbine Technologies, of 34% of the Property’s RBA prepared to sign five-year lease with new Buyer upon sale at mutually agreed upon terms
• Nearly half of the Property occupied by a subsidiary of a Fortune 100 company through December 2019
• Only 9.4% rollover until end of 2018, providing stable cash flows for nearly five years, with value-add potential to lease up the remaining 8% of the Property
“The Jupiter Medical & Technology Park offers a truly unique opportunity to acquire a significant “core-plus” asset that is ideally located at the heart of the blossoming medical, bioscience and technology industry within South Florida.”
CONTACT INFORMATION
Dominic F. Montazemi
Vice President
T 561.393.1622
J. Scott O’Donnell
Senior Vice President
T 561.393.1602
Christian Lee
Vice Chairman
T 305.381.6425
Jason Hochman
Vice President
T 305 381 6439
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