An investor is continuing his South Florida office shopping spree, scooping up a West Palm Beach property for $7 million.
Allen Chelminsky, through his affiliate Palm Beach Lakes Corporate Center, bought two office buildings at 2001 and 2007 Palm Beach Lakes Boulevard from Ganzer Brothers, a company managed by Glen Ganzer, a deed shows. Chelminsky took out a $5.6 million mortgage from Ganzer Brothers.
The purchase includes a one-story, 10,206-square-foot medical office building; and a five-story, 39,442-square-foot office building that also allows for medical offices, according to property records. The buildings were built in 1973 and 1974.
Ganzer Brothers bought the buildings in 2001 for $4.4 million from 2001 Partners, an affiliate of Royal Landscaping in Boynton Beach, a deed shows.
Chelminsky’s latest purchase follows his acquisition in October of the two-tower office complex Concept II in Lake Worth Beach for $10.9 million. In July 2019, Chelminsky bought another pair of office buildings at 7100 West Commercial Boulevard and 7200 West Commercial Boulevard in Lauderhill for $5 million.
The investor is focusing on medical offices, as both buildings he bought in 2019 are medical offices, and a healthcare services firm occupies the property he bought last year.
In Chelminsky’s most recent acquisition, the smaller one-story building is occupied by an MD Now Urgent Care.
Chelminsky isn’t the only one to focus on medical offices. In August, WPB Medical Office, LLC, led by Andrew Greenbaum of Boca Raton, bought the West Palm Medical Plaza in West Palm Beach for $5.2 million.