UHealth, the health care division of the University of Miami, has acquired a medical office building in Deerfield Beach for $16.4 million as part of its ongoing expansion in South Florida. The two-story facility, located at 1192 East Newport Center Drive, spans 45,136 square feet and is currently leased to UHealth’s Sylvester Comprehensive Cancer Center.
The purchase price equates to about $363 per square foot. UHealth paid approximately $7 million more than what the previous owner spent on the property in 2011. The seller was an affiliate of Welltower, a company based in Toledo, Ohio, which had bought the 3.1-acre site for $9.5 million fourteen years ago. This transaction is part of Welltower’s broader effort to divest a $6 billion portfolio of medical office properties.
Built in 2001 within the Newport Center business park, the building includes facilities for radiation oncology and chemotherapy infusion treatments.
UHealth already owns another nearby medical office building at 1300 East Newport Center Drive in Deerfield Beach, purchased for $8.2 million in 2018.
According to information from UHealth’s website, this acquisition aligns with its strategy to expand beyond its main campus in Allapattah’s Miami Health District. Earlier this year, UHealth signed a lease for 11,200 square feet at Northwest 87th Avenue and Northwest 53rd Terrace in Downtown Doral to open a new medical outpost offering services such as eye care and physical therapy.
Additionally, UHealth leases a six-story medical center covering 160,000 square feet within Downtown Doral—a mixed-use community developed by Codina Partners based in Coral Gables.
Last December, UHealth assembled three commercial properties near its Allapattah campus for a total of $68 million; these included a strip mall anchored by medical offices and a parking lot north of Jackson Memorial Hospital. In summer of last year, UM spent $40 million on acquiring the former Macy’s furniture store at South Dixie Highway in Pinecrest as it considers further health care expansion.
