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Meso Scale Diagnostics Acquires 9.1-Acre Development Site In Palm Beach Gardens For $18.9M

Property Image
SOLD
$18,900,000

Florida

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Development Site
Sold 05/11/2023
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Property Image
SOLD

Meso Scale Diagnostics Acquires 9.1-Acre Development Site In Palm Beach Gardens For $18.9M

Palm Beach Gardens

See Similar Deals
Development Site
Sold 05/11/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

Meso Scale Diagnostics, a medical technology firm, has acquired a 9.1-acre development site in Palm Beach Gardens for $18.9 million. The property, located at the southwest corner of PGA Boulevard & Ballenisles Boulevard, just east of Florida’s Turnpike, was previously approved for a hospital. The sale marks a surge in medical building development and sales in South Florida.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $18,900,000
  • Acres: 9.1
  • Market: Palm Beach Gardens

The buyer in this transaction is Meso Scale Diagnostics, represented by Jacob Wohlstadter. The seller is John Clark Bills.

Players

JB
John Clark Bills
2 deals$18.9M volume
SELLER

Details

SOLD
IMAGE: 05/11/2023 ADDRESS: Southwest corner of PGA Boulevard & Ballenisles Boulevard, just east of Florida’s Turnpike MARKET: Palm Beach Gardens ASSET TYPE: Development Site ~ ACRES: 9.1 BUYER: Meso Scale Diagnostics - Jacob Wohlstadter SELLER: John Clark Bills SALE PRICE: $18,900,000 NOTE: Medical technology firm Meso Scale Diagnostics has purchased a 9.1-acre development site in Palm Beach Gardens, previously approved for a hospital, for $18.9 million. The company's plans for the vacant property are yet to be disclosed, but the purchase comes amid a surge in medical building development and sales in South Florida.

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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