Joint Venture Sells 68,000 SF Class-A Medical Office Development to
Anchor Health Properties, Continues Expansion Across Southeastern United States
PORT ST. LUCIE, Fla. (Sept. 29, 2026) — Flagler MAS AJP, a joint venture between MAS AJP and Flagler Healthcare focused on delivering state-of-the-art medical facilities, today announced it has completed the $16.3 million sale of MedSquare® Port St. Lucie to Anchor Health Properties, a national healthcare real estate investment firm.
Prior to closing the sale, the joint venture inked a lease expansion with Cleveland Clinic, a world-renowned, nonprofit multispecialty academic medical center, which has signed on to occupy the entire 68,000-square-foot Class A medical office development, doubling its previously announced space commitment. Located at 190 SW Becker Road, the two-story,
Class A medical office building is under construction with delivery anticipated in late 2027.
The sale was led directly by principals Alberto J. Pérez and Juan Carlos “J.C.” Mas of MAS AJP and Chris Coots of Flagler Healthcare.
“Much of the existing medical office inventory across the country is outdated, creating a need for modern, well-located facilities that support how healthcare is delivered today,” said Alberto J. Pérez, managing partner of MAS AJP. “Through MedSquare®, we are meeting this demand by delivering best-in-class medical buildings where providers can operate efficiently, deliver
exceptional care and grow over time. Our goal is to create lasting value for our healthcare
partners and investors while contributing to healthier communities.”
Chris Coots, CEO of Flagler Healthcare added, “Cleveland Clinic’s decision to expand to the entire building is especially meaningful because this is our first MedSquare® project together.
“We’re proud to have earned the confidence of a world-renowned health system and, through this sale, Anchor Health Properties, a respected national healthcare real estate investor. We look forward to continuing long-term relationships with both organizations.”
The Cleveland Clinic lease expansion was brokered by Chris Coots, Christian Coots and Nicholas Muffoletto of Flagler Healthcare.
Strategically located along SW Becker Road with convenient access to the Florida Turnpike and Interstate 95, MedSquare® Port St. Lucie will offer modern outpatient medical space in a growing community. The building will feature floor-to-ceiling impact glass, nearly 15-foot ceilings, high-speed fiber optic connectivity, keyless entry, gurney-capable elevators, a dedicated service
elevator, and convenient patient parking with reserved spaces.
MedSquare® encompasses nearly a dozen development projects totaling approximately 600,000 square feet across Florida, including Miami, Cutler Bay, Pembroke Pines, South Miami and Sarasota, as well as Charlottesville, Virginia. MedSquare® Charlottesville, a planned 20,000-square-foot facility, is fully pre-leased to Gastro Health and marks the brand’s first
development outside Florida.
About MedSquare®
MedSquare® is a leading healthcare real estate development brand focused on creating modern, Class A medical office facilities that support healthcare providers, enhance the patient experience and contribute to healthier communities. Created by MAS AJP, the brand’s continued expansion is supported by a joint venture formed in 2024 with Flagler Healthcare. MedSquare®
facilities combine contemporary design, advanced technological infrastructure and strategic locations to meet the evolving needs of healthcare providers and the communities they serve.
About MAS AJP
MAS AJP is a commercial real estate investment and development firm based in Coral Gables, Florida. Led by principals Juan Carlos Mas and Alberto J. Pérez, its team has invested in and developed projects encompassing more than 5 million square feet across the United States. The firm brings together expertise in acquisitions, development, construction and property
management across a range of asset classes, with a focus on creating high-quality properties that deliver long-term value for investors and the communities they serve. In 2024, MAS AJP partnered with Flagler Healthcare to form Flagler MAS AJP to accelerate the expansion of itsMedSquare® brand portfolio. For more information, visit masajp.com.
About Flagler Healthcare
Flagler Healthcare is a privately held, full-service healthcare real estate firm specializing in investment, asset management, development, and brokerage services. Led by founder and CEO Chris Coots, the firm brings more than two decades of specialized sector experience and has developed and owned real estate valued at more than $1 billion. Flagler distinguishes itself
through a proprietary healthcare business intelligence platform, using data-driven analytics to optimize site selection, analyze market needs, and maximize asset value for physician groups, health systems, and equity partners. For more information, visit flaglerhealthcaresolutions.com.
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