Daily Business Review | By: Review Staff
Dealmaker: Kenneth Weston
The deal: Weston brokered the sale of 16 medical-office units totaling 33,000 square feet to 14 difference medical users for an approximate total value of $10.6 million, or $321 per square foot.
The 16 units are located at the One Seventeen Professional Arts Center at 8200 SW 117th Ave. in the Palms at Town & Country retail development in Kendall. Institutional investor TIAA-CREF owns the property and hired Flagler Development Group to build the medical office project.
Details: Taking advantage of a growing desire by physicians to locate their offices near high-volume retail centers, Weston hammered out the 16 closings over 60 days. Weston’s company, which has sold more than 1.5 million square feet in the last two and a half years, worked to sign physicians in complimentary fields. “Ideally some of the primary care physicians will refer patients to specialists in the same center”, Weston said.