CBRE Inc. as the exclusive advisor, proudly presents for sale “Coral Ridge Medical Center”, a +/- 19,500 square foot medical center anchored by a Tenet Healthcare Ambulatory Surgical Center. The Subject Property is a 2-story medical office building located within the densely populated Oakland Park submarket of Fort Lauderdale, FL. The ground floor of the property is fully occupied by a Tenet Healthcare operated surgical center who has been at the center since 2007 and recently extended their lease through July 31, 2029 with a 5-year option to renew and 3% annual rent escalations. The second floor consists of four medical office suites, two of which are currently occupied by gastrointestinal and orthopedic practices. The other two suites were recently vacated by retiring physicians and present a value-add opportunity for an investor. At 75% occupancy, Coral Ridge Medical Plaza is a rare medical office offering that provides both stability from the strong surgical center anchor as well as significant upside through leasing the balance of the medical space.
Coral Ridge Medical Center is located on North Dixie Highway immediately north of Commercial Boulevard and is easily accessible via major transportation arteries I-95 and US-1, both just a few minutes' drive from the plaza. The Property is also ideally located only 5 minutes from Holy Cross Health’s main campus, a 557-bed non-profit hospital and the area’s largest medical driver.