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NGKF Capital Markets Closes $14.5 Million Sale of South Florida Medical Plaza

Boynton Beach, FL (01/09/2017)

9:00 AM

NGKF Capital Markets announces the $14.5 million sale of South Florida's Boynton Beach Medical Plaza, a two-story, multi-tenant medical office building to Ohio-based Woodside Health LLC.
Built in 2007, the Class A building at 10151 Enterprise Center Boulevard spans approximately 50,684 square feet near Bethesda Hospital West in Boynton Beach, FL, as well as I-95 and Florida's Turnpike.

NGKF Capital Markets Executive Managing Director Adam Greenberg and Managing Director Michael Lohmann represented the seller, Boynton Beach Medical, LLC, a South Florida medical practice group. At the close of escrow, the building was approximately 90 percent occupied, including several long-term leases.

"The primary demand driver for this transaction is a need for medical properties in South Florida close to the ever-growing South Florida community," said Greenberg. "This transaction traded at a premium value due to having a great balance of in-place diversity of tenants, as well as positioning its standing as an established medical building."

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.