White Oak Healthcare Buys South Florida MOB Portfolio

Woodside Health sold two properties totaling 77,000 square feet across three buildings for more than $22 million.
Estero Medical Center

White Oak Healthcare MOB REIT has acquired three medical office buildings totaling some 77,400 square feet in South Florida for $22.5 million, according to CommercialEdge. Woodside Health sold Estero Medical Center, a 36,000-square-foot facility in Estero, and Oak Point I & II, a two-building, 41,400-square-foot property in Vero Beach. CBRE U.S. Healthcare and Life Sciences assisted the seller in the disposition.

Completed in 2006, Estero Medical Center occupies 4 acres at 10201 Arcos Ave. adjacent to a senior living campus, just west of Interstate 75. The two-story property features a parking ratio of 6 spaces per 1,000 square feet.

Oak Point I & II came online in 1997 and 1999, respectively, at 3730 and 3755 Seventh Terrace. The 2-acre asset is less than 1 mile from the Cleveland Clinic Indian River Hospital, a 332-bed short-term acute care hospital with emergency services.

The assets were 97.3 percent leased at the time of sale to a diverse group of physician practices. Available specialties include oncology, radiology, urgent care, orthopedics and neurology, among others.

CBRE’s Chris Bodnar, Lee Asher, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany and Zack Holderman negotiated on behalf of Woodside Health. The same brokerage team was recently instrumental in the sale of a 65,143-square-foot medical office building in Spartanburg, S.C.