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South Florida

Margate medical office building sells for $14M

Northwest Medical Park II in Margate
Northwest Medical Park II in Margate

A medical office building in Margate has traded for $14.2 million, The Real Deal has learned.

Northwest Medical Park II, a three-story, 47,000-square-foot building at 2964 North State Road 7, changed hands on Friday, according to Broward County records. WLH Partners sold the building to HTA-Northwest Medical Park. The county recorded the transaction on Monday.

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No financing was recorded.

The three-acre property underneath the building was not part of the sale to HTA. WLH owned the building while leasing the land from Northwest Medical Center, according to county records. The 99-year ground lease began in 2008.

Northwest Medical Park II was completed in 2009. — Eric Kalis

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