PALM BEACH, FL—How much demand is there for medicaloffice space in South Florida? We find one indication atthe Groves Medical Plaza in West Palm Beach.

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Avison Young just secured a tenant to leaseover 25% of a newly constructed medical officebuilding within 30 days of certificate of occupancyissuance. Groves Medical Plaza is the first medicaloffice property to come online in West Palm Beach inrecent years. The a two-story, 22,000-square-foot medicaloffice building is located at 13475 Southern Boulevard inLoxahatchee.

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Gary Gottlieb, a principal with Avison,represented the landlord, Groves Medical Plaza, in the5,700-square-foot new lease with Prettelt Center for Family Health.Prettelt is a family practitioner that will also provide urgentcare services, which plans to take occupancy at the building by theend of 2014.

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Medical office condos were in vogue prior tothe economic shift and passage of healthcare reform legislation,”says Gottlieb. “However, now we are seeing fervent demand forquality medial office space for lease and the brisk interest inthis property is evidence of such.”

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Although new medical construction is rare in this submarket,Gottlieb says Groves Medical Plaza's location just west of thePalms West Hospital, Wellington Regional Hospital, and othermedical centers will complement the growing needs of the area. Themedical office building comes equipped withhurricane impact glass and a backup generator, among otheramenities.

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