Colliers International announced that it brokered the sale of a medical office building (MOB) in West Palm Beach, Florida for $8.3 million. Colliers International represented Triple Double Real Estate, the seller.
The building is situated within walking distance of the HCA Florida JFK North Hospital. According to county records, the building is 43,797 square feet. The price is approximately $190 per-square-foot.
OrbVest is a global real estate company that invests in medical commercial real estate in the United States. OrbVest has a portfolio of more than 1.4 million square feet representing approximately $400 million of specialized medical real estate under management.
According to data captured in the LevinPro HC database, this transaction is the fourth MOB acquisition of 2024. This also marks OrbVest’s first acquisition of the year. In 2023, 192 MOB transactions were reported.
