Jacksonville, Fla.-based Baptist Health has purchased a medical outpatient building in Jacksonville, Fla., for $65 million, according to an Aug. 19 report from REBusiness Online.
The Southbank Medical Pavilion is a 493,012-square-foot facility adjacent to Baptist Health’s flagship hospital campus.
The MOB was 94% leased at the time of the sale.
Alpharetta, Ga.-based ShareMD sold the facility to Baptist Health, the report said.
A spokesperson from Baptist Health provided the following statement to Becker’s: “Baptist Health is in the process of completing the purchase of the office building at 841 Prudential Drive. As a tenant for nearly two decades, we recognize the value of the building and developable land, its proximity to our tertiary campus on the Southbank, and its role in supporting patient care, our workforce, and health system operations. The 19-story office building has 500,000 square feet of rentable space. Although future plans are still being evaluated, we expect to make infrastructure upgrades that improve the tenant experience and support the building’s long-term use.
Built in 1955 by KBJ Architects for Prudential Insurance, it was the first high-rise in downtown Jacksonville and was once considered to be the tallest office building in the region, if not in all of Florida. We recognize the building’s historic significance, and its purchase reinforces our continued investment in the local community while helping preserve an important part of Jacksonville’s skyline.”
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