Post on 04-Oct-2020
LEASING CONTACTCHAD COSTELLO561 452 1387CHADCOSTELLO@HRAFLORIDA.COM
Addison Medical Centre is a planned, Class A medical building on the southwest corner
of Jog Rd. and Linton Blvd. The property is surrounded by many of the most reputable
country club communities in the Boca/Delray area, with homes ranging from $1 million
to $15 million. The property is located one mile from Delray Medical Center and is ideally
situated between five major hospital sub-markets.
As a top-tier medical provider, your location needs to be representative of your practice.
Addison Medical Centre will have a high-end design with quality finishes, in an upscale
building that you can be proud of and your patients will want to visit.
INTRODUCTION
MAP DATA © 2019 GOOGLE ICON ART WORK SOURCE: HOSPITAL BY TEUKU SYAHRIZAL, HIGHWAY BY HEA POH LIN, AND FACIAL PL ASTIC SURGERY BY DELWAR HOSSAIN FROM THE NOUN PROJECT
Location/Hospital Map Addison Medical Centre
Untitled layer
Delray Medical Center
Boca Raton Regional Hospital
West Boca Medical Center
Bethesda Hospital East
Bethesda Hospital West
Addison Medical Centre A1A
LOCATION
CENTRALLY LOCATED TO THE FLORIDA TURNPIKE AND I-95
CENTRALLY LOCATED BETWEEN 5 HOSPITALS IN A 7-MILE RADIUS
IMMEDIATELY PROXIMATE TO DELRAY MEDICAL CENTER
IDEAL FOR HIGH-END MEDICAL SERVICES SUCH AS DERMATOLOGY AND PLASTIC SURGERY
BETHESDA HOSPITAL EASTBETHESDA
HOSPITAL WEST
nn
DELRAY MEDICAL CENTER
WEST BOCA MEDICAL CENTER
BOCA RATON REGIONAL HOSPITAL
Boca RatonBoca Raton
MAP DATA © 2019 GOOGLE PHOTO SOURCE © 2019 REDFIN (AND RESPECTIVE LEASING AGENTS / HOMEOWNERS)
RESIDENTIAL
Neighorhoods Around Addison Medical Centre
Untitled layer
Addison Reserve (Up to $3Million)
Mizner's Preserve (Up to $1.5Million)
Grande Orchid Estates (Up to$1.2 Million)
Azura (Up to $2 Million)
The Polo Club (Up To $1.7Million)
Vintage Oaks @ Polo Club (Upto $4 Million)
Fieldbrook Estates (Up to $4Million)
Boniello Acres (Up to $4.5Million)
St. Andrews Country Club (Upto $9 Million)
Royal Palm Polo (Up to $3Million)
UP TO $3M
ADDISON RESERVE
UP TO $1.5M
MIZNER'S PRESERVE
UP TO $1.7M
THE POLO CLUBUP TO $2M
AZURA
UP TO $3M
ROYAL PALM POLO
UP TO $4M
FIELDBROOK ESTATES
UP TO $15M
LE LACUP TO $4.5M
BONIELLO ACRES
UP TO $4M
VINTAGE OAKS AT POLO CLUB
UP TO $1.2M
GRAND ORCHID ESTATES
UP TO $9M
UP TO $8M
WOODFIELD COUNTRY CLUB
ST. ANDREWS COUNTRY CLUB
Mizner's PreserveMizner's PreserveGuard HouseGuard House
▪ Located within two miles of the following country
club communities: Addison Reserve, St. Andrew’s,
Woodfield, Broken Sound and The Polo Club of
Boca Raton
▪ Home prices in nearby luxurious communities range
between $1 million and $15 million
▪ Nearby residents have significant net worth and are
willing to pay a premium for high-quality medical
services
S I T E P L A NJ O G R O A D
LOBBY
2 STORYMEDICAL OFFICE
BUILDING
COVEREDDROP OFF
LOBBY
DUMPSTER
CAR CHARGINGSTATIONS
CAR CHARGINGSTATIONS
MONUMENTSIGN
ELEV
UNISEX
ELEV.MACHINE
ELECT.
ELEV
UNISEX
SITE PLAN
▪ Abundance of Parking with 201 spaces (8.4/1000 SF)
▪ Direct Visibility with Monument Sign on Jog Road
▪ Convenient Ingress/Egress with Three Access Points
on Jog Road
▪ Covered Drop Off Area
G R O U N D F L O O R P L A N
SUITE102
SUITE100
SUITE106
SUITE104
3,172 SQ.FT. 3,155 SQ.FT.
2,748 SQ.FT.2,749 SQ.FT.
41'-0
"39
'-4"
58'-10" 58'-10"
41'-0
"39
'-4"
LOBBY
LOBBY
COVEREDAREADROPOFF
ELEV
UNISEX
ELEV.MACHINE
ELECT.
ELEV
11,824 SQUARE FEET
SUITE 100SUITE 102SUITE 104SUITE 106
TOTAL GROSS BUILDING AREA:
SECOND FLOOR GROSS FLOOR AREA
SUITE 200SUITE 202SUITE 204SUITE 206
BUILDING AREA CALCULATIONSW/ COMMON AREACOMMON AREASUITE AREA
12,116 SQUARE FEET
23,940 SQUARE FEET
GROUND FLOOR GROSS FLOOR AREA
UNISEX
2,750 SQUARE FEET
2,384 SQUARE FEET2,383 SQUARE FEET
2,736 SQUARE FEET
2,859 SQUARE FEET
2,405 SQUARE FEET2,401 SQUARE FEET
2,842 SQUARE FEET
3,172 SQUARE FEET
2,749 SQUARE FEET2,748 SQUARE FEET
3,155 SQUARE FEET
3,297 SQUARE FEET
2,773 SQUARE FEET2,769 SQUARE FEET
3,277 SQUARE FEET
422 SQUARE FEET
365 SQUARE FEET365 SQUARE FEET
419 SQUARE FEET
438 SQUARE FEET
368 SQUARE FEET368 SQUARE FEET
435 SQUARE FEET
BUILDING PLAN - 1ST FLOOR
BUILDING PLAN - 2ND FLOOR
S E C O N D F L O O R P L A N
SUITE202
SUITE200
SUITE206
SUITE204
3,297 SQ.FT. 3,277 SQ.FT.
2,769 SQ.FT.2,773 SQ.FT.
42'-0
"
42'-0
"39
'-4"
39'-4
"70'-10" 70'-10"
LOBBY
ELEV
OPEN TOBELOW
ELEV
11,824 SQUARE FEET
SUITE 100SUITE 102SUITE 104SUITE 106
TOTAL GROSS BUILDING AREA:
SECOND FLOOR GROSS FLOOR AREA
SUITE 200SUITE 202SUITE 204SUITE 206
BUILDING AREA CALCULATIONSW/ COMMON AREACOMMON AREASUITE AREA
12,116 SQUARE FEET
23,940 SQUARE FEET
GROUND FLOOR GROSS FLOOR AREA
2,750 SQUARE FEET
2,384 SQUARE FEET2,383 SQUARE FEET
2,736 SQUARE FEET
2,859 SQUARE FEET
2,405 SQUARE FEET2,401 SQUARE FEET
2,842 SQUARE FEET
3,172 SQUARE FEET
2,749 SQUARE FEET2,748 SQUARE FEET
3,155 SQUARE FEET
3,297 SQUARE FEET
2,773 SQUARE FEET2,769 SQUARE FEET
3,277 SQUARE FEET
422 SQUARE FEET
365 SQUARE FEET365 SQUARE FEET
419 SQUARE FEET
438 SQUARE FEET
368 SQUARE FEET368 SQUARE FEET
435 SQUARE FEET
LEASED
We are offering ownership in the overall project, where you will have the opportunity
to partner with one of Palm Beach County’s most reputable real estate developers by
entering into a lease with us. You’ll benefit not only from long-term ownership in the
building, but also the financial upside from the development. In other words, you’ll
benefit from buying in at the “wholesale” value rather than at “retail” as you would
with a medical office condo.
EQUITY PARTICIPATION
▪ Your ownership potential in the building will be correlated with the size of your space.
Equity participation is equivalent to fifty percent (50%) of a tenant’s pro-rata share of rent-
able square footage relative to the total rent-able area for the building
Example: If you lease 6,000 square feet, your approximate ownership would equal 6,000 /
24,000 = 25% / 2 = 12.5% ownership in the entire building
▪ Equity offering shall be based on proposed total project costs, as calculated at the time a
tenant signs a partnership agreement
▪ A ten (10) year lease agreement must be signed and guaranteed by equity tenants
▪ Both the developer and the tenant/investor will receive equal return on capital
(i.e. no “promote” structure, but rather a simple “pari-passu” equity structure)
The principals of Azure Development have a passion for developing unique commercial
properties and luxury homes. Azure Development strives to identify fine properties that
combine all the benefits of an ideal location – close proximity to town, shopping, and
restaurants with an exquisitely designed and crafted building. They pride themselves on
attention to detail. Azure’s properties are known for exceptional design, flawless finishes,
sophisticated fixtures and superior craftsmanship.
Azure commercial projects include the Downtown Delray Medical Centre, The Shoppes at
Addison Place, and Pompano Beach Fishing Village. All three are recent examples of the
quality and vision that goes into every single property they develop.
REPUTABLE DEVELOPER
POMPANO BEACH FISHING VILLAGE
DOWNTOWN DELRAY MEDICAL CENTRE
THE SHOPPES AT ADDISON PLACE
DEVELOPER BIOS
RICHARD CASTER
Mr. Caster has a thirty-five year history of real estate development in Florida. He started his career in
commercial property development, working in every discipline from acquisitions to leasing, finance,
construction and management. In the late 1980s, Mr. Caster began managing broken land sale subdivisions
and coordinated redevelopment programs using community development districts. He created new
subdivisions with uses ranging from retail centers to industrial and office parks to amenitized residential
communities. Starting in the year 2000, Mr. Caster began focusing on in-fill development along the eastern
coast of South Florida, mostly in downtown areas with existing infrastructure. He assembled multiple
properties, obtaining new land use and zoning approvals to support mixed-use development. Mr. Caster has
also completed condo conversions and structured complex mixed-use commercial developments. In 2013,
Mr. Caster co-founded Azure Development with a focus on building unique luxury single and multi-family
homes along the coastal communities of south Palm Beach County. Azure uses a broad palette of
architectural styles that embrace the South Florida lifestyle.
Mr. Caster has a BS degree from Northwestern University, a GG degree from the Gemological Institute of
America and a MBA degree from the University of Miami.
Mr. Caster lives in east Delray Beach with his wife of 33 years and has three grown children.
BRIAN GROSSBERG
Mr. Grossberg co-founded Azure Development in 2013 with the objective of bringing his passion for quality
design and flawless construction to the coastal communities of south Palm Beach County. For over a
decade prior to founding Azure Development, Mr. Grossberg managed all operations and financial functions
for New Urban Communities, a real estate development firm and homebuilder focused on residential,
commercial and mixed-use developments throughout South Florida. Prior to joining New Urban, he was
an Investment Professional at GE Equity, the private equity arm of General Electric. During his tenure with
GE Equity he served on the Board of Directors of numerous companies and as an Advisory Board member
to several venture capital firms. Prior to GE Equity, he worked in the Financial Advisory Services Group of
PricewaterhouseCoopers, where he consulted on mergers and acquisitions. Mr. Grossberg also worked in the
Real Estate Tax Consulting Practice for Price Waterhouse in Atlanta, GA.
Mr. Grossberg holds an MBA from Duke University, where he graduated second in his class and was a Fuqua
Scholar. He also holds a Masters and BS in Accounting from the University of Florida, where he graduated
with highest honors. In addition, Mr. Grossberg is a Certified Public Accountant.
Mr. Grossberg resides in Boca Raton with his wife of 19 years and two daughters.
COMPANY NAME MUNICIPALITY # OF LOCAL EMPLOYEES BUSINESS TYPE
BOCA RATON REGIONAL HOSPITAL (BAPTIST) BOCA RATON 2,800 HOSPITAL
FLORIDA ATLANTIC UNIVERSITY BOCA RATON 2,761 HIGHER EDUCATION
BETHESDA HEALTH (BAPTIST) BOYNTON BEACH 2,200 HOSPITAL
OFFICE DEPOT, INC. (HEADQUARTERS) BOCA RATON 2,034 OFFICE SUPPLIES
NCCI (HEADQUARTERS) BOCA RATON 923 INSURANCE ACTUARY
JOHNSON CONTROLS (HEADQUARTERS) BOCA RATON 898 SECURITY SYSTEMS MANUFACTURING
LYNN UNIVERSITY BOCA RATON 663 HIGHER EDUCATION
ADT SECURITY SERVICES (HEADQUARTERS) BOCA RATON 600 SECURITY SYSTEMS MANUFACTURING
IBM CORP. BOCA RATON 600 ELECTRONICS R&D
TMS HEALTH BOCA RATON 560 HEALTHCARE SUPPORT SERVICES
SBA COMMUNICATIONS CORPORATION BOCA RATON 500 WIRELESS INFRASTRUCTURE
YURCOR (HEADQUARTERS) DELRAY BEACH 500 COMPUTER SYSTEMS SERVICES
US FOODS BOCA RATON 500 FOOD DISTRIBUTION
VERIO BOCA RATON 450 TELECOMMUNICATION CARRIERS
LEXUS NEXUS BOCA RATON 423 COMPUTER PROGRAMMING
MEDICAL STAFFING NETWORK BOCA RATON 400 HEALTHCARE STAFFING SERVICES
BLUE GREEN CORP. (HEADQUARTERS) BOCA RATON 400 LEISURE & RESORT COMMUNITIES
NEWELL BRANDS - APPLIANCES AND COOKWARE BOCA RATON 350 SMALL APPLIANCE MANUFACTURING
NEARBY EMPLOYERS
1 MILE 3 MILE 5 MILE
POPULATION
2019 ESTIMATE 11,916 84,849 199,0352024 PROJECTION 12,731 91,927 212,989POP GROWTH 2019-2024 6.84% 8.34% 7.01%AVERAGE AGE 65.8 58.3 53.3HOUSEHOLDS
2019 ESTIMATE 7,091 45,505 96,1112024 PROJECTION 7,552 49,146 102,370GROWTH 2010-2019 11.83% 23.92% 12.05%GROWTH 2019-2024 6.50% 8.00% 6.51%OWNER OCCUPIED 6,050 38,689 79,180RENTER OCCUPIED 1,041 6,816 16,930INCOME
2019 AVG HOUSEHOLD INCOME $83,330 $86,108 $89,725DAYTIME POPULATION
TOTAL DAYTIME EMPLOYEES 2,526 28,065 110,894TOTAL HEALTHCARE EMPLOYEES 879 8,182 18,431
ICON ART WORK SOURCE: POPUL ATION BY SUSANNANOVA, HOUSEHOLD INCOME BY SARAH MAUTSCH, AND BRIEFCASE BY PROSYMBOLS FROM THE NOUN PROJECT
DEMOGRAPHICS
53.3
LARGE CONCENTRATION OF BABY BOOMERS (AVG. AGE OF 53.3 IN A 5-MILE RADIUS)
$100K+
HIGH INCOME AREA (28,085 HOUSEHOLDS IN A 5-MILE RADIUS EARN MORE THAN $100K PER YEAR)
110,894
STRONG NEARBY EMPLOYMENT BASE (DAYTIME POPULATION OF 110,894 IN A 5-MILE RADIUS)
LEASING CONTACTCHAD COSTELLO
561 452 1387CHADCOSTELLO@HRAFLORIDA.COM