Palm Beach Gardens, Florida – August 18, 2016 – AW Property Co., the leading real estate investment and operating company specializing in medical and professional office properties in major markets throughout Florida, today announced the acquisition of two medical office buildings adding to its growing portfolio of healthcare real estate. AW currently owns and operates more than 1.5 million square feet of space in its target markets in Florida. Since January 1, 2016, AW has acquired $80 million in medical office assets comprised of 325,000 square feet of gross leasable area.
AW recently acquired 1250 Medical Plaza in Sarasota, Florida for $16,079,237. Built in 2006, the 48,201 SF, Class A medical office building is located directly adjacent to the 819-bed Sarasota Memorial Hospital. Prominently located and highly visible, the property has immediate access to heavily travelled Tamiami Trail, the primary north-south traffic artery that provides convenient access to downtown Sarasota and Interstate 75. The building is 95% leased and anchored by Partners Imaging and Manasota Medical Group. The remainder of the building is occupied by a variety of independent physicians and healthcare service providers.
AW also acquired Riverbend Professional Center in Fort Lauderdale, Florida for $10,125,000. Built in 2008, the 66,917 SF, Class A medical office building is preeminently located on the Northwest corner of the heavily travelled intersection of I-95 and Broward Boulevard in Fort Lauderdale. The building is 88% leased and anchored by physician groups affiliated with Tenet Healthcare. The remainder of the building is occupied by a variety of healthcare service providers.
“AW Property Co. is taking the lead in Florida as the preeminent owner and operator of medical office properties in the state,” said Brian K. Waxman, founding partner and Managing Director of AW Property Co. “AW’s strategy at both recently acquired assets is to complete initial capital upgrades and deferred maintenance to maintain best in class product. We have initiated our customary operating program which is proactive in nature to identify and cure issues and increase tenant satisfaction. We are known for our ‘gold standard’ customer service that is amplified by our tenant outreach programs, satisfaction surveys, newsletters, networking socials and community events. In addition, we seek to strengthen relations with health systems and collaborate on physician recruitment and retention,” concluded Waxman.
Visit http://www.awproperty.com/ for more information.
About AW Property Co.
AW Property Co. is a real estate investment and operating company that specializes in medical and professional office properties in major markets throughout the State of Florida. Founded in 2002, the company currently operates more than 1.5 million square feet of space in its target markets. AW has a highly dedicated, customer focused team of professionals with expertise in all facets of real estate acquisitions, redevelopment, finance, operations and asset management. AW’s headquarters are located in Palm Beach Gardens, with regional offices in Ft. Lauderdale, West Palm Beach and Sarasota.
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