February 4, 2020
Cushman & Wakefield has brokered the $24.3 million sale of Gardens Medical Pavilion, a 75,424-square-foot medical office tower in Palm Beach County.
Gardens Medical Pavilion is a five-story medical office tower developed in 1991 on a nearly five-acre site at 3401 PGA Blvd. The asset features a porte-cochère, an on-site Walgreens pharmacy and diagnostics lab, covered and underground parking for tenants, landscaped grounds and prominent visibility along PGA Boulevard. The building was 84% leased at the time of sale. Notable tenants include Florida Cancer Specialists, the University of Miami, Gastro Group of the Palm Beaches and Pediatric Partners.
Scott O’Donnell, Michael Ciadella, Dominic Montazemi, Greg Miller and Miguel Alcivar, Anthony Librizzi and Michael H. Feldman of Cushman & Wakefield represented the seller, Gardens Medical Pavilion LLC, in the transaction. Charlottesville-based developer Anchor Health Properties acquired the property.
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