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.


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