Baptist Health has expanded its presence along the Southbank of the St. Johns River with the acquisition of the Southbank Medical Pavilion in downtown Jacksonville. The health system purchased the 493,000-square-foot healthcare asset from ShareMD for $65 million. The property is located at 841 Prudential Drive and is directly adjacent to Baptist Health’s flagship campus, positioning the buyer next to its primary facilities in the area.
The Southbank Medical Pavilion rises 22 stories and is currently 94% leased, indicating a largely stabilized rent roll at the time of sale. The asset sits on 7.9 acres along the riverfront, in a cluster of major healthcare institutions. Nearby facilities include Wolfson Children’s Hospital, Baptist MD Anderson Cancer Center and Nemours Children’s Health, placing the building within a concentrated medical corridor.
In addition to the main medical tower, the property includes a dedicated parking component and future development potential. A six-story parking garage totaling 324,212 square feet and providing 1,124 parking spaces serves the campus. The site also features two development outparcels, offering additional optionality for future construction or expansion by the new owner or subsequent stakeholders, although no specific plans were disclosed in connection with this transaction.
ShareMD selected Transwestern to represent it in the disposition. Transwestern’s Healthcare Capital Markets team, including Steve Leathers, Bill Boyd, Seth Gilford, Jake Jordan, Angela Heidman and Max Hastings, advised the seller and led the marketing and sale process. According to the parties, the campaign attracted offers from a range of buyer profiles, including healthcare-focused investors, Jacksonville office investors and healthcare providers.
The combination of a high-occupancy medical office tower, structured parking and additional land in close proximity to major hospital and specialty care facilities made the Southbank Medical Pavilion a sizable healthcare real estate transaction for the Jacksonville market. The acquisition brings a large, predominantly leased medical office complex under the control of a major regional health system that already maintains its flagship campus next door.
