Med Office Daily - May 11, 2026 - Cushman & Wakefield facilitates $6.9M Delray Medical Pavilion sale in Delray Beach, Florida

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NEWS ROUNDUP

ACQUISITION: Cushman & Wakefield facilitates the $6.9M sale of Delray Medical Pavilion, a 36,041 SF MOB in Delray Beach, Florida. Benlee Asset Management has acquired the property from 14000 S Military Trail LLC, a private-capital group led by Josh Hirth. The asset is 63.4% leased, with 88% of occupied space dedicated to healthcare users, and offers value-add potential in a high-demand medical corridor. Scott O’Donnell, Mike Ciadella, Greg Miller, Miguel Alcivar, Gino Lollio, and Travis Ives of Cushman & Wakefield represented the seller.

ACQUISITION: Montecito Medical acquires a three-building, nearly 92,000 SF medical outpatient portfolio in the Wilmington, North Carolina market. The properties are fully leased to EmergeOrtho, with two located in Wilmington and one in Shallotte. Rus Gudnyy of Montecito Medical said the deal builds on the firm’s long-standing relationship with EmergeOrtho and aligns with its focus on high-quality outpatient assets. Chip Conk, CEO of Montecito Medical, highlighted the decade-long partnership with EmergeOrtho and expressed plans to continue supporting the group’s long-term real estate strategy.

DEVELOPMENT: WVU Medicine Princeton Community Hospital announces a $25.5M investment to develop a new MOB in Princeton, West Virginia. The planned four-story facility will span more than 50,000 SF. The building will house specialty clinics along with physical, occupational, and speech therapy services, while significantly expanding the WVU Heart & Vascular Institute. The cardiology space will increase from approximately 1,200 SF to 7,700 SF. Karen Bowling, president and CEO of Princeton Community Hospital, is overseeing the initiative as part of WVU Medicine’s broader capital investment strategy. The project will be developed in partnership with the City of Princeton.

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MED OFFICE PROPERTIES FOR SALE

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8,066 SF Building | 8% Cap Rate | Access to U.S. Highway 59

71,620 SF Building | 7% Cap Rate | 100% Occupancy | Direct Interstate Access & Cincinnati/Northern Kentucky International Airport | 1.39/1,000 SF Parking Ratio

MED OFFICE PROPERTIES FOR LEASE

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98,200 SF Building | Access to Route 9, & Worcester Regional Airport | 200 Surface Parking Spaces

ONE MORE THING

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