Flagler Healthcare Investments recently sold two medical office buildings (MOBs) to Remedy, a healthcare real estate firm, for $20.6 million. The MOBs are conveniently located near a Baptist Health outpatient facility in Boynton Beach and have been leased by Ohio-based Welltower since 2014.
The first building, measuring 16,916 square feet, was sold for $10.66 million and is home to the Orthopedic Center of Palm Beach County as its key tenant. The second building spans 16,994 square feet and was purchased for nearly $10 million with tenants including Nicklaus Children’s Pediatric Specialists and Premier Dermatology Partners.
Both MOBs were constructed in 2016 to cater to the growing population in Boynton Beach area according to reports from S.Florida Business Journal. With an increase in multifamily development on the east side of town and new high-end single-family home communities emerging further west in Agricultural Reserve area has resulted in higher demand for healthcare services.
