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Medical Air Transport Company Moves HQ To Broward

December 10, 2018/in Done Deals, News/by SFOBA STAFF

The company acquired an office building in Planation for $12.85 million. CLICK ON THE HEADLINE FOR MORE

Pharmaceutical Firm Relocates, Inks 56,000 SF Lease Deal

December 3, 2018/in Done Deals, News/by SFOBA STAFF

Jay M. Grossman and Richard W. Brockney of NAI/Merin Hunter Codman represented the Landlord, while Molly McDonough with Butters Realty & Management represented the tenant in the transaction. CLICK ON THE HEADLINE FOR MORE

Medical Air Transport Company Moves HQ To Broward

December 10, 2018/in Done Deals, News/by SFOBA STAFF

The company acquired an office building in Planation for $12.85 million. CLICK ON THE HEADLINE FOR MORE

Pharmaceutical Firm Relocates, Inks 56,000 SF Lease Deal

December 3, 2018/in Done Deals, News/by SFOBA STAFF

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Medical Air Transport Company Moves HQ To Broward

December 10, 2018/in Done Deals, News/by SFOBA STAFF

After recently moving its worldwide headquarters to Fort Lauderdale from outh Lake, Texas, medical air transportation company MASA Global has acquired an office building in Plantation for $12.85 million.

Cornerstone Condominium Investors, managed by Stacey Vogel, sold the 61,362-square-foot office building at 1250 S. Pine Island Road to MASA Property Management, an affiliate of MASA Global. (MASA stands for Medical Air Services Association.) The buyer received a $10.5 million mortgage from Valley National Bank.

The price equated to $209 a square foot.

The office building was constructed on the 2.1-acre site in 2008. It’s just north of busy Interstate 595.

MASA Global’s interest in Broward County was revealed in April 2017, when the Business Journal wrote that the company – under the name “Project Bogey” – filed a job growth incentive application to open an office in Fort Lauderdale. At the time, its headquarters were in South Lake, Texas.

State records show that, in August 2017, MASA Global was approved for up to $210,000 in Qualified Target Industry (QTI) incentives from the state and local governments, should it meet the goal of creating 35 jobs in Broward with an average wage of $71,789. Those jobs must be maintained through 2022.

Maggie Gunther, spokesperson for the Greater Fort Lauderdale Alliance, which helped MASA Global reach the QTI deal, said the project was approved for Fort Lauderdale and no incentives have been paid out to date.

On its website, MASA Global’s worldwide headquarters is now listed as 101 N.E. Third Ave., Suite 1600 in Fort Lauderdale. It still has a membership office in South Lake, Texas. The company has over 1 million members worldwide who depend on it to fly them to medical centers for emergency care. Many of its satellite offices are in Latin America and the Caribbean, which are easily reachable through South Florida airports.

Source: SFBJ

Pharmaceutical Firm Relocates, Inks 56,000 SF Lease Deal

December 3, 2018/in Done Deals, News/by SFOBA STAFF

NAI/Merin Hunter Codman, Inc. announced that it completed one of the largest office lease transactions in Palm Beach County this year with TherapeuticsMD, Inc., which signed a 56,212-square-foot lease at 951 Yamato.

Jay M. Grossman, President and Director, and Richard W. Brockney of NAI/Merin Hunter Codman represented the Landlord, 951 Yamato Acquisition Company LLC, an affiliate of Brookwood Financial Partners, LLC.

Molly McDonough, Senior Vice-President of Butters Realty & Management, represented the tenant in the transaction.

The long-time Boca Raton-based pharmaceutical firm received three FDA product approvals since May and has outgrown its 32,000-square-foot location at 6800 Broken Sound Parkway NW, also in Boca Raton.

When asked why TherapeuticsMD chose 951 Yamato, Josie Weitzel, Director of Corporate Operations, stated “After two long years of researching facility options in the Palm Beach County area, we finally found a space that will offer an open space floor plan, which will allow for a more cohesive and collaborative environment to meet the needs our current and future staff.”

Grossman added, “951 Yamato was well suited for the tenant’s need with its large floor plates. In addition, the ability to find large blocks of office space to accommodate headquarter-sized tenants in Boca Raton is diminishing. The few that can be found are priced at the top of the market, located in less convenient areas, and many lack modern, Class-A features and amenities. 951 Yamato recently completed a million-dollar, environmentally friendly property improvement program to ensure that it remained a first-choice for large office space users. With the signing of the TherapeuticsMD lease and other recent leases, the building is now 89% leased.”

Current plans are to build-out two additional spec suites to be delivered in the first quarter of 2019, and a 2,000-square-foot conference center for the use of all 951 Yamato tenants.

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Medical Air Transport Company Moves HQ To Broward

Pharmaceutical Firm Relocates, Inks 56,000 SF Lease Deal

Medical Air Transport Company Moves HQ To Broward

Pharmaceutical Firm Relocates, Inks 56,000 SF Lease Deal

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Medical Air Transport Company Moves HQ To Broward

Pharmaceutical Firm Relocates, Inks 56,000 SF Lease Deal

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