Benlee Asset Management Acquires Delray Beach Medical Office From 14000 S Military Trail LLC For $6.9M

The medical office asset located at 14000 South Military Trail in Delray Beach has been sold for $6,900,000. The property comprises 36,041 square feet and is currently 63.4% leased. A significant portion, 88%, of the occupied space is dedicated to healthcare users. The buyer, Benlee Asset Management, intends to make capital improvements to reposition the property and draw in additional medical tenants.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $6,900,000
• Address: 14000 South Military Trail
• Market: Delray Beach
• Square Footage: 36,041 SF
• Price Per Square Foot: $191
• Buyer: Benlee Asset Management
• Seller: 14000 S Military Trail LLC
• Brokers: Scott O'Donnell, Michael Ciadella, Greg Miller, Miguel Alcivar, Gino J. Lollio, and Travis Ives - Cushman & Wakefield

Cushman & Wakefield acted as the representative for 14000 S Military Trail LLC in this transaction, which involved the sale of the Delray Beach Medical Center to Benlee Asset Management. The deal highlights the intentions of the buyer to enhance the property further, focusing on attracting more medical tenants in the future.