Gordon Messinger will Oversee Leasing for the 116,000-SF MedSquare Health
Coral Gables, FL, January 30, 2019 – Cushman & Wakefield has been named the exclusive leasing agent for a 116,000-square-foot, three-story Class A medical office building in Coral Gables. Called MedSquare Health, the $40 million project is being developed by joint-owners AJP Ventures and Mas Group. An official groundbreaking ceremony will be held at the site on March 6 at 10 a.m.
Cushman & Wakefield Managing Director Gordon Messinger will lead leasing for the property, marketing the space to a variety of tenants in the medical field. Asking rents will begin in the low $40s per square foot net.
MedSquare Health will be situated on 4.5 acres at the corner of SW 87th Ave. and SW 94th St., within the Baptist Hospital medical submarket, which is one of South Florida’s primary healthcare corridors. The project will be the first off-campus, Class A medical office building developed in the submarket in over 20 years. The site is also within walking distance to Baptist Hospital, which is South Florida-based Baptist Health’s largest facility and one of the largest hospitals in the nation.
“With its state-of-the-art design and central location, MedSquare Health will be South Florida’s premier medical office building, appealing to leading national, regional and local health care providers,” said Messinger.
The design of the LEED-certified building will be led by Modis Architects with careful attention to the quality of tenant and patient experience, from the work environment to outdoor gathering spaces, with an emphasis on maximizing natural light throughout with floor-to-ceiling glass windows. Dual entry will provide access from the adjoined, two-story parking garage as well as the prominent entrance on Galloway Road. Other building amenities include valet parking, a 7 per 1,000-square-foot parking ratio, an on-site café and shared conference room space.
“As the aging American population lives longer, it will continue to drive demand for healthcare real estate,” said Alberto J. Pérez, Founder and President of AJP Ventures. “MedSquare Health will fill a geographic gap for health professionals looking to better serve their patients. That includes aiding healthcare providers in all types of practice who are looking to open, relocate or expand in South Florida.”
About Mas Group
Juan Carlos Mas leads the Mas Group of Companies, an investment group that seeks out strategic and transformational investments in the real estate, construction equipment, healthcare, and technology sectors. The Mas Group looks for opportunities not just to add capital, but to add its significant operational and strategic expertise in helping companies achieve their objectives. In addition to MedSquare Health, the Mas Group has invested in millions of square feet of real estate projects, encompassing all stages of development across multiple sectors. For over three decades, Mr. Mas has invested in, started, and advised numerous companies, helping to unlock shareholder value through growth initiatives and strategic acquisitions. For more information, please contact the Mas Group at 305-448-1088.
About AJP Ventures
As a firm that acquires, develops and manages commercial real estate throughout South Florida, AJP Ventures provides investors and partners superior risk-adjusted returns throughout the multiple stages of the real estate market cycle. AJP’s notable commercial real estate projects include The Building on Ponce Circle, MedSquare Health, Mandarin Parc, Casa Venti Dos, 26TwentySix Ponce, House 57 and Ocean Bay House. For more information on AJP Ventures and their current projects, visit http://www.ajpventures.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida