Royal Palm Square Bucks Down Commercial Market with Medical Condo
Florida commercial real estate developer and commercial property specialist, Bayshore Land Group is going vertical on its luxury medical condo project, Royal Palm Square in Coral Springs, FL.
Coral Springs, FL (PRWEB) October 30, 2008 -- Even in a down economy, people still need healthcare - and growing physician practices still need strategically located office space.
Florida commercial real estate developer and commercial property specialist Bayshore Land Group is going vertical on its luxury medical condo project in Coral Springs.
Royal Palm Square is a 25,000-square-foot, Class A, Mediterranean-style building that caters to the specialized needs of physician groups. The site is located just minutes from two hospitals in one of South Florida's largest suburban areas.
"There is a great deal of construction activity going on right now at this project.," said Jay Fertig, President of Bayshore Land Group, developer of Royal Palm Square. "That's good news at a time when residential development has slowed and the economy is uncertain."
Bayshore Land Group is bucking a down market with its latest project, proving location and pricing prevail in difficult times. The firm secured construction loans from City National Bank to build its luxury, one-story medical office condo development. The project gives owners full creative control of design and amenities, including a 5:1 parking ratio, private entrances, and custom build-out options like marble tile, granite countertops, and wood cabinetry.
"We are getting a strong response from the medical community in the local area. In fact, two medical groups are under contract to purchase units," said Rob DelGiacco, the commercial real estate broker at Century 21 City Real Estate, who is now heading up Royal Palm Square's sales efforts. "Royal Palm Square proves that quality commercial projects are still getting financed - and receiving strong interest from buyers."
Bayshore Land Group is selling the medical office condos from $259 per square foot for shell space, with flexible leasing opportunities as well. Units range in size from 1,268 to 2500 square feet. Suites can be combined to create even larger office spaces according to the buyer's needs. The project will be ready for occupancy in mid 2009.
"We need to continue to diversify our tax base, so we are excited that Bayshore Land Group is developing its luxury medical project in Coral Springs. Soon, medical professionals will have a beautiful facility to call home," said Coral Springs Mayor Scott Brook. "We want our business people to be successful, and Royal Palm Square sets the stage with a beautiful design and a strategic location in our city."
For more information about the location and sales of Royal Palm Square visit: www.RoyalPalmCS.com or call Robert Del Giacco at Century 21 City Real Estate: 954-752-8007.
About Bayshore Land Group
Bayshore Land Group, Inc is a full service real estate development and investment management company providing targeted site acquisition services, entitlement administration and commercial/residential development capabilities. Owners Jay Fertig and Chris MacNair specialize in projects throughout Florida, both in mature and developing markets, with a keen eye towards identifying underutilized and undervalued real estate.
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