News Release: Cushman & Wakefield Arranges $6M Sale of Behalf of Maluco LLC

For Immediate Release

Rare Value-Add On-Campus Medical Office Building Offers Below-Market Rents, Occupancy

BOYNTON BEACH, Florida, June 14, 2021 – Cushman & Wakefield announced today that the commercial real estate services firm has arranged the sale of Bethesda Professional Plaza, a 54,188-square-foot medical office building located in Boynton Beach, Florida. The final sale price was $6 million.

Scott O’Donnell, Dominic Montazemi, Mike Ciadella, Greg Miller and Miguel Alcivar of Cushman & Wakefield, along with Chris Coots, Didier Choukroun and Christine Perez of Flagler Healthcare Investments, represented the seller, Maluco LLC, in the transaction with legal representation from Lance Aker and Stuart Kapp of Kapp Morrison LLP. AW Real Estate Management LLC acquired the property.

“With current occupancy at 49%, Bethesda Professional Plaza was an incredibly rare opportunity to acquire a value-add, on-campus medical office property with below-market rents and a below-market occupancy,” O’Donnell said. “The building is the only on-campus medical office building adjacent to the 401-bed Bethesda Hospital East which is now a part of Baptist Health South Florida, creating an advantage to all competing medical office buildings in the submarket.”

Located at 2623 S. Seacrest Boulevard, the three-story property was built in 1988.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

-END-