Boynton Beach, Fla.-based Bethesda Hospital, part of Coral Gables, Fla.-based Baptist Health South Florida, has sold its former medical office campus in Boynton Beach for $37.75 million, a spokesperson for the health system confirmed with Becker's.
Wheelock Street Capital, an investment service based in Greenwich, Conn., and Foundry Commercial, a real estate brokerage service company in Orlando, Fla., jointly purchased the 30-acre property that houses a 126,000-square-foot office and warehouse building.
The plan is for the two companies to demolish the existing buildings and develop 457,000 square feet of warehouses for a project called Egret Point Logistics Center, according to a March 28 news release.
The companies plan to demolish the campus buildings this spring and construct two warehouses for the joint project by next spring.