LEASING CONTACT CHAD COSTELLO 561 452 1387 … · 2020. 2. 24. · Addison Medical Centre is a...

LEASING CONTACTCHAD COSTELLO561 452 [email protected]

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


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


2,842 SQUARE FEET

3,172 SQUARE FEET


3,155 SQUARE FEET

3,297 SQUARE FEET


3,277 SQUARE FEET

422 SQUARE FEET

365 SQUARE FEET365 SQUARE FEET

419 SQUARE FEET

438 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


TOTAL GROSS BUILDING AREA:

SECOND FLOOR GROSS FLOOR AREA


BUILDING AREA CALCULATIONSW/ COMMON AREACOMMON AREASUITE AREA

12,116 SQUARE FEET

23,940 SQUARE FEET

GROUND FLOOR GROSS FLOOR AREA

2,750 SQUARE FEET


2,736 SQUARE FEET

2,859 SQUARE FEET


2,842 SQUARE FEET

3,172 SQUARE FEET


3,155 SQUARE FEET

3,297 SQUARE FEET


3,277 SQUARE FEET

422 SQUARE FEET


419 SQUARE FEET

438 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 [email protected]

LEASING CONTACT CHAD COSTELLO 561 452 1387 … · 2020. 2. 24. · Addison Medical Centre is a...

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