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.