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News Release: Just Closed: Long-Term, Master Leased by University of Miami Health System (Moody’s ‘A2’)

Crossroads III – Plantation, Florida

CBRE U.S. Healthcare and Life Sciences Capital Markets is pleased to announce the closing of Crossroads III (the “Property”) in Plantation, Florida. Lee Asher, Zack Holderman, Jordan Selbiger, Cole Reethof and Josiah Gunter partnered with Christian Lee and Sean Kelly in the Miami market and Will Pike of CBRE Net Lease Property Group to act as the seller’s exclusive advisors.

Date Closed: 06/17/2022

Size: 95,777 SF

Occupancy: 100%

Crossroads III is a four-story, Class A suburban medical office and imaging center that was recently 100% master leased to the University of Miami d/b/a Uhealth (Moody’s ‘A2’) for 15 years with 2.5% annual rent escalations. This location includes outpatient clinical space for Uhealth’s Bascom Palmer Eye Institute and Sylvester Comprehensive Cancer Center, respectively the nation’s top ranked eye hospital and South Florida’s only NCI-Designated Cancer Center, as well as offering Otolaryngology and Primary Care services. UHealth also intends to expand the building by ~15,000 SF to construct an attached outpatient surgery center.

For more information, or if we can help with your healthcare real estate holdings, please contact us.

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