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Baptist Health buys 493,000-square-foot Jacksonville medical office tower
The deal values the Southbank Medical Pavilion at $65 million, with the 22-story property 94% leased.
Baptist Health has acquired the Southbank Medical Pavilion, a 493,000-square-foot medical office complex at 841 Prudential Drive in downtown Jacksonville, for $65 million, according to ConnectCRE.
The 22-story property is 94% leased and sits on 7.9 acres along the Southbank of the St. Johns River, directly adjacent to Baptist Health’s flagship campus.
ShareMD was the seller, and Transwestern represented ShareMD in the disposition. Transwestern’s Healthcare Capital Markets team and the firm’s marketing process helped generate offers from healthcare-focused investors, Jacksonville office investors, and healthcare providers.
In addition to the medical tower, the transaction includes a six-story, 1,124-space parking garage totaling 324,212 square feet, plus two development outparcels.