Baptist Health Acquires Southbank Medical Pavilion In Jacksonville For $65 Million

The asset involved in the transaction is a medical office building located at 841 Prudential Drive in Jacksonville, FL. The property spans 8 acres and consists of 493,000 square feet. The sale price for the property was $65,000,000, equating to approximately $132 per square foot. The building is currently 94% occupied and includes two development sites that could accommodate an additional 147,000 square feet of space.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $65,000,000
• Buyer: Matthew Zuino - Baptist Health
• Seller: John Bardis - ShareMD
• Square Footage: 493,000
• Price Per Square Foot: $132
• Market: Jacksonville, FL
• Occupancy Rate: 94%
• Development Sites Potential: 147,000 square feet

Matthew Zuino represented Baptist Health in the acquisition, while John Bardis represented ShareMD in the sale. The transaction highlights the involvement of key individuals in executing the acquisition of the Southbank Medical Pavilion, a prominent medical office asset in the region.