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14000 S Military TrlDelray Beach, FL 33484
Delray Medical Pavilion
Asset ClassOffice, Healthcare Facility
Cushman & Wakefield of Florida, LLC, as exclusive advisor, is pleased to present Delray Medical Pavilion, a 37,440 SF value-add medical office building
overview of deal

Overview

Delray Medical Pavilion is currently 64.3% leased with weighted average base rents 17% below market. Legacy positioning enables the property to capture growing demand from clinical and medical tenants, backfilling vacancies and driving 61% NOI growth from Year 1 to Year 3.

 

The property boasts a prominent location along South Military Trail, a major thoroughfare with approximately 38,500 passing vehicles per day. Indirect access through Lake Ida Road and W Atlantic Ave to I-95 and Florida’s Turnpike offers tenants, and potential users, easy connectivity to eight regional hospitals in under 30 minutes. The Property also stands out as one of two properties within the submarket with covered parking, a highly valued amenity by doctors and their patients.

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Investment Highlights

  • Projected NOI growth of 61% over 3 years
  • Only property within submarket with 35 covered below-grade parking spaces
  • Strategic repositioning opportunity to establish the asset as a premier behavioral and clinical destination
  • Within minutes of Delray Medical Center and major arterials including Atlantic Avenue and I-95
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14000 S Military TrlDelray Beach, FL 33484
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Listing provided by Revere CRE