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News Release: Closed – 4800 Medical Center

CLOSED – 4800 Medical Center

4800 North Federal Highway, Fort Lauderdale, FL

PRESS RELEASE

4800 North Federal Highway, Fort Lauderdale, Fla.

CBRE announced today it has arranged the $2.65 million sale of 4800 Medical Center, a 100% leased medical office building in Fort Lauderdale. Located on 4800 North Federal Highway, directly across from Holy Cross Hospital, the property consists of a 0.44-acre parcel improved with a 13,851sq. ft., three-story, medical office building. David J. Wigoda, SIOR and Sean Kelly represented the City of Fort Lauderdale General Employees’ Retirement System in the sale.

“The building’s location along federal highway across from Holy Cross Hospital made it a very attractive opportunity to numerous local investors,” said David Wigoda, senior vice president at CBRE. “Ultimately, the high volume of interest and demand we encountered led to the building selling for the full asking price.”

Due to its ideal location on North Federal Highway and ownership keeping the property well maintained, the building has enjoyed historical occupancy at or near 100%. As medical tenants and other business continue to expand in East Fort Lauderdale, investors continue to seek out purchase properties in the submarket.

INVESTMENT SUMMARY
 4800 MEDICAL CENTER
 ADDRESS:  4800 North Federal Highway | Fort Lauderdale, Florida 33308
 BUILDING SIZE (GLA):  13,851 SF
 YEAR BUILT:  1976, Recently Updated & Renovated
 LAND AREA:  ±0.44 acres
 OCCUPANCY:  100%
 NUMBER OF TENANTS:  3 (4 Tenant Spaces)
SALE PRICE:  $2,650,000

 

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