Oil chief buys office building next to JFK Medical Center in West Palm

Trades breaks down to about $130 psf

Miami /
Apr.April 12, 2018 04:30 PM

2051 & 2151 45th Street and Augustus C. Miller (Credit: SF Partners and Smithsonian Libraries)

A medical office building next to the north campus of the JFK Medical Center in West Palm Beach just traded hands for $9.5 million, property records show.

SF Partners sold the 73,500-square-foot medical center at 2051 and 2151 45th Street to Augustus C. Miller, who heads the fuel distribution company Miller Oil. The trade breaks down to about $130 per square foot.

Records show SF Partners, a Miami-based real estate development and management firm, paid $7.8 million for the building in February 2016 – meaning it sold for a roughly 18 percent gain in two years. The building sits on about 3 acres of land, just north of the intersection of 45th Street and Congress Avenue, near downtown West Palm Beach. Tenants include a mix of physicians, therapists and other medical services.

SF Partners owns a mix of commercial properties throughout Florida and Georgia, according its website.

Late last year a similar medical office building next to the main campus of the JFK Medical Center in Atlantis traded hands for $11.25 million.

Miller Oil is headquartered in Norfolk, Virginia. The Millers have homes in Virginia Beach, Washington, D.C., and Palm Beach, according to published reports.


Related Articles

arrow_forward_ios
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
James "Jimmy" Finkelstein and Pamela Gross with 622 North Flagler Drive, West Palm Beach (Getty, Modern Living Group)
Media power couple buys West Palm Beach condo for $6M
Media power couple buys West Palm Beach condo for $6M
The $10 million West Palm Beach property (Douglas Elliman)
Auto insurance honcho buys West Palm Beach mansion for $10M
Auto insurance honcho buys West Palm Beach mansion for $10M
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
Tricera co-founders and managing principals Scott Sherman and Ben Mandell with One Clearlake office tower (Tricera Capital)
Tricera Capital, partners buy West Palm Beach office tower for $61M
Tricera Capital, partners buy West Palm Beach office tower for $61M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...