Class A Medical Center 5441 N University Dr Coral Springs, FL 33065 Class A+++ Medical Office Building / Professional Building Highend luxury build out Coral Springs Professional Campus Newer Construction build in 2005 Perfect for your medical or professional practice Sponsored By: JOHN DEMARCO, ACP 9546788733 JohnDeMarco@Remax.net Each office is independently owned and operated. RE/MAX 5 STAR REALTY 4151 Hollywood Blvd Hollywood, FL 33020 (954) 3610000 Each office independently owned and operated
REAL ESTATE INVESTMENT DETAILS 5441 N University Dr Coral Springs, FL 33065 Analysis Analysis Date September 2017 Property Property Property Address Year Built 2005 Class A Medical Center 5441 N University Dr Coral Springs, FL 33065 Purchase Information Property Type Health Care Purchase Price $2,350,000 Tenants 1 Total Rentable Sq. Ft. 6,986 Financial Information All Cash Loans Type Debt Term Amortization Rate Payment LO Costs All Cash Income & Expenses Gross Operating Income $0 Monthly GOI $0 Total Annual Expenses ($62,554) Monthly Expenses ($5,213) Contact Information John DeMarco, ACP 9546788733 JohnDeMarco@Remax.net P. 2
PROPERTY DESCRIPTION 5441 N University Dr Coral Springs, FL 33065 John DeMarco with Re/Max 5 Star Realty is pleased to present the sale of this luxury free standing medical office / professional office building located in desirable Coral Springs Professional Campus. Class A++ building with incredible high end build out. Over $300 a square foot in build out. This 7000 square foot building is currently being used as a sports medicine and medical institute. Build out includes private exam rooms with sinks, x ray room, marble waiting room, full bathrooms with showers, ADA bathrooms and hallways, large gym used for rehab center, locker room with sauna and much more Perfect building for high end plastic surgeon practice, surgical center, general medical, law firm etc. This property is also a great acquisition for investors, when leased after closing at $28.33 a square foot, this property will provide an investor with a strong 7.27% capitalization rate on a proforma basis. The average days on market in the complex for leasing on ONLY 90 days. See included proforma in this package. The Cleveland Clinic has broken ground across the street which will be a 72,000 square foot surgical center. Included in this package are recent comparable sales showing similar properties are selling on average at $372 a square foot ($2,600,000.00); this property is priced to sell at a below market price of $336 a square foot ($2,350,000.00). The parks association covers all common area maintenance, including painting, roof, insurance, landscaping etc, low fee of $2964.50 per month. Please remember to not disturb existing business, for all showings and for additional information contact listing broker. P. 3
PROPERTY PHOTOS 5441 N University Dr Coral Springs, FL 33065 Private Office Lobby Therapy Room ADA Compliance Bathrooms Gym Parking P. 4
PRO FORMA SUMMARY 5441 N University Dr Coral Springs, FL 33065 TENANT ANNUAL SCHEDULED INCOME Tenant Actual Market $0 $197,913 TOTALS $0 $197,913 INVESTMENT SUMMARY Price: $2,350,000 ANNUALIZED INCOME Actual Market Gross Potential Rent $0 $197,913 Less: Vacancy $0 $0 Effective Gross Income $0 $197,913 Less: Expenses ($62,554) ($26,980) Net Operating Income ($62,554) $170,933 Year Built: 2005 Tenants: 1 RSF: 6,986 Price/RSF: $336.39 Lot Size: 7,104 sf Floors: 1 APN: 4841 10 17 Cap Rate: 2.66% Market Cap Rate: 7.27% ANNUALIZED EXPENSES Actual Market HOA $30,630 $0 Maintenance $4,944 $0 Taxes Real Estate $26,980 $26,980 Total Expenses $62,554 $26,980 Expenses Per RSF $8.95 $3.86 P. 5
Lease Comps Summary Lease Comps Report Deals 6 LEASE COMPARABLES Gross Asking Rent Per SF $28.33 Gross Starting Rent Per SF Avg. Months On Market 3 SUMMARY STATISTICS Rent Deals Low Average Median High Gross Asking Rent Per SF Gross Starting Rent Per SF Gross Effective Rent Per SF Asking Rent Discount TI Allowance Months Free Rent 5 $25.00 $28.33 $30.35 $51.82 Lease Attributes Deals Low Average Median High Months on Market Deal Size Lease Deal in Years Floor Number 6 6 1 6 1 100 0.1 1 3 697 0.1 1 3 636 0.1 1 6 1,500 0.1 2 P. 6 and should be personally verified through personal inspection Copyrighted by and/or with report the licensed appropriate to Re/Max professionals. 5 Star Realty 746067. 9/29/2017 Page 1
Lease Comps Summary Lease Comps Report Lease Rents Property Name Address Rating SF Leased Floor Sign Date Type Rent Rent Type 1 A 7 5441 N University Dr 1,500 1st 8/28/2017 New $19.00/nnn Asking 2 B 4 5571 N University Dr 110 1st 5/3/2017 New $51.82 Asking 2 B 4 5571 N University Dr 160 1st 5/3/2017 New $41.25 Asking 3 5491 N University Dr 1,200 2nd 2/7/2017 New $25.00/mg Asking 4 B 5 5551 N University Dr 1,113 1st 10/17/2016 New $25.00/mg Asking 5 A 3 5461 N University Dr 100 1st 6/17/2016 New P. 7 and should be personally verified through personal inspection Copyrighted by and/or with report the licensed appropriate to Re/Max professionals. 5 Star Realty 746067. 9/29/2017 Page 2
Lease Comps Details Lease Comps Report 1 5441 N University Dr A 7 Coral Springs, FL 33067 NW Broward/Coral Springs Submarket LEASE SF Leased: 1,500 SF Sign Date: Aug 2017 Space Use: Office/Medical Lease Type: Direct Floor: 1st Floor Suite: 102 RENTS Asking Rent: $19.00/NNN PROPERTY EXPENSES Taxes: $3.86/SF (2016) LEASE TERM Start Date: Sep 2017 Lease Term: 1 Year TIME ON MARKET Date On Market: May 2017 Date Off Market: Aug 2017 Months on Market: 4 Months TIME VACANT Date Vacated: Jun 2017 Date Occupied: Sep 2017 Months Vacant: 3 Months MARKET AT LEASE Vacancy Rate 2017 Q3 YOY Current Building 0.0% 0.0% Submarket 13 Star 10.1% 0.8% Metro Overall 8.7% 1.4% Gross Asking Rent Per SF 2017 Q3 YOY Current Building $30.35 Submarket 13 Star $22.04 1.3% Metro Overall $27.03 3.2% LEASING REP Box Real Estate LLC 1248012488 W Atlantic Blvd Coral Springs, FL 33071 Jason Chamely (954) 8571884 PROPERTY Property Type: Office Status: Built Nov 2004 Tenancy: Multi Class: B Parking: Surface Spaces @ $ Rentable Area: 6,986 SF Stories: 1 Floor Size: 6,986 SF Vacancy at Lease: 0.0% Land Acres: 0.16 Submarket Leasing Activity 2017 Q3 YOY 12 Mo. Leased SF 262,099 Months On Market 11.1 5.9% 8.1 Copyrighted report licensed to Re/Max 5 Star Realty 746067. P. 8 9/29/2017 Page 3
Lease Comps Details Lease Comps Report 2 5571 N University Dr B 4 Coral Springs, FL 33067 NW Broward/Coral Springs Submarket LEASE SF Leased: 110 SF Sign Date: May 2017 Space Use: Office Lease Type: Direct Floor: 1st Floor RENTS Asking Rent: $51.82 LEASE TERM Start Date: May 2017 TIME ON MARKET Date On Market: Mar 2017 Date Off Market: May 2017 Months on Market: 2 Months TIME VACANT Date Vacated: Mar 2017 Date Occupied: May 2017 Months Vacant: 2 Months MARKET AT LEASE Vacancy Rate 2017 Q2 YOY Current Building 1.5% Submarket 24 Star 11.0% Metro Overall 9.2% 1.5% 0.5% 1.3% Gross Asking Rent Per SF 2017 Q2 YOY Current Building $45.56 Submarket 24 Star $22.90 Metro Overall $26.93 0.3% 5.3% LEASING REP Leton Enterprises, Inc. 5420 NW 37th Ave Miami, FL 331422716 Valentino Vsanchi (954) 7555777 PROPERTY Property Type: Office Status: Built Mar 2005 Tenancy: Multi Class: B Construction: Reinforced Concrete Parking: Surface Spaces @ $ Rentable Area: 13,623 SF Stories: 2 Floor Size: 5,803 SF Vacancy at Lease: 1.5% Submarket Leasing Activity 2017 Q2 YOY 12 Mo. Leased SF 243,324 Months On Market 8.8 4.2% 15.1 Copyrighted report licensed to Re/Max 5 Star Realty 746067. P. 9 9/29/2017 Page 4
Lease Comps Details Lease Comps Report 2 5571 N University Dr B 4 Coral Springs, FL 33067 NW Broward/Coral Springs Submarket LEASE SF Leased: 160 SF Sign Date: May 2017 Space Use: Office Lease Type: Direct Floor: 1st Floor RENTS Asking Rent: $41.25 LEASE TERM Start Date: May 2017 TIME ON MARKET Date On Market: Mar 2017 Date Off Market: May 2017 Months on Market: 2 Months TIME VACANT Date Vacated: Mar 2017 Date Occupied: May 2017 Months Vacant: 2 Months MARKET AT LEASE Vacancy Rate 2017 Q2 YOY Current Building 1.5% Submarket 24 Star 11.0% Metro Overall 9.2% 1.5% 0.5% 1.3% Gross Asking Rent Per SF 2017 Q2 YOY Current Building $45.56 Submarket 24 Star $22.90 Metro Overall $26.93 0.3% 5.3% LEASING REP Leton Enterprises, Inc. 5420 NW 37th Ave Miami, FL 331422716 Valentino Vsanchi (954) 7555777 PROPERTY Property Type: Office Status: Built Mar 2005 Tenancy: Multi Class: B Construction: Reinforced Concrete Parking: Surface Spaces @ $ Rentable Area: 13,623 SF Stories: 2 Floor Size: 5,803 SF Vacancy at Lease: 1.5% Submarket Leasing Activity 2017 Q2 YOY 12 Mo. Leased SF 243,324 Months On Market 8.8 4.2% 15.1 P. 10 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 5
Lease Comps Details Lease Comps Report 3 5491 N University Dr Coral Springs, FL 33067 NW Broward/Coral Springs Submarket LEASE SF Leased: 1,200 SF Sign Date: Feb 2017 Space Use: Office Lease Type: Direct Floor: 2nd Floor Suite: 202 RENTS Asking Rent: $25.00/MG PROPERTY EXPENSES Taxes: $1.98/SF (2011) Operating Exp.: $6.52/SF (2011) Total Exp.: $8.50/SF (2011) LEASE TERM Start Date: Mar 2017 TIME ON MARKET Date On Market: Oct 2016 Date Off Market: Feb 2017 Months on Market: 4 Months TIME VACANT Date Occupied: Mar 2017 MARKET AT LEASE LEASING REP Box Real Estate LLC 1248012488 W Atlantic Blvd Coral Springs, FL 33071 Jason Chamely (954) 8571884 Vacancy Rate 2017 Q1 YOY Current Building 0.0% 0.0% Submarket 24 Star 11.0% 0.9% Metro Overall 9.5% 1.4% Gross Asking Rent Per SF 2017 Q1 YOY Current Building $25.00 Submarket 24 Star $23.13 0.1% Metro Overall $26.55 4.8% PROPERTY Property Type: Office Status: Built 2005 Tenancy: Multi Class: B Construction: Reinforced Concrete Parking: 50 free Surface Spa Rentable Area: 14,000 SF Stories: 2 Floor Size: 7,000 SF Vacancy at Lease: 0.0% Land Acres: 14.19 Submarket Leasing Activity 2017 Q1 YOY 12 Mo. Leased SF 312,351 Months On Market 12.5 57.9% 14.1 P. 11 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 6
Lease Comps Details Lease Comps Report 4 5551 N University Dr B 5 Coral Springs, FL 33067 NW Broward/Coral Springs Submarket LEASE SF Leased: 1,113 SF Sign Date: Oct 2016 Space Use: Office Lease Type: Direct Floor: 1st Floor Suite: 202 RENTS Asking Rent: $25.00/MG LEASE TERM Start Date: Dec 2016 TIME ON MARKET Date On Market: Aug 2016 Date Off Market: Oct 2016 Months on Market: 3 Months TIME VACANT Date Vacated: Dec 2016 Date Occupied: Dec 2016 Months Vacant: 1 Day MARKET AT LEASE LEASING REP Box Real Estate LLC 1248012488 W Atlantic Blvd Coral Springs, FL 33071 Jason Chamely (954) 8571884 Vacancy Rate 2016 Q4 YOY Current Building 0.0% 0.0% Submarket 24 Star 10.2% 1.7% Metro Overall 9.7% 1.4% Gross Asking Rent Per SF 2016 Q4 YOY Current Building $25.00 Submarket 24 Star $23.83 2.3% Metro Overall $26.65 6.8% PROPERTY Property Type: Office Status: Built Jun 2005 Tenancy: Multi Class: B Construction: Reinforced Concrete Parking: 50 free Surface Spa Rentable Area: 13,623 SF Stories: 2 Floor Size: 7,294 SF Vacancy at Lease: 0.0% Submarket Leasing Activity 2016 Q4 YOY 12 Mo. Leased SF 319,738 Months On Market 14.2 76.2% 11.6 P. 12 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 7
Lease Comps Details Lease Comps Report 5 5461 N University Dr A 3 Coral Springs, FL 33067 NW Broward/Coral Springs Submarket LEASE SF Leased: 100 SF Sign Date: Jun 2016 Space Use: Office Lease Type: Sublease Floor: 1st Floor PROPERTY EXPENSES Taxes: $4.02/SF (2016) LEASE TERM Start Date: Jul 2016 TIME ON MARKET Date On Market: Dec 2015 Date Off Market: Jun 2016 Months on Market: 6 Months TIME VACANT Date Occupied: Jul 2016 MARKET AT LEASE Vacancy Rate 2016 Q2 YOY Current Building 0.0% 0.0% Submarket 24 Star 11.6% 1.4% Metro Overall 10.5% 0.8% Gross Asking Rent Per SF 2016 Q2 YOY Current Building Submarket 24 Star $22.82 0.5% Metro Overall $25.58 4.1% LEASING REP Century 21 Tenace Realty 1835 University Dr Coral Springs, FL 33071 Andres Mendez (954) 7552100 PROPERTY Property Type: Office Status: Built Nov 2004 Tenancy: Multi Class: B Parking: Surface Spaces @ $ Rentable Area: 7,104 SF Stories: 1 Floor Size: 7,104 SF Vacancy at Lease: 0.0% Submarket Leasing Activity 2016 Q2 YOY 12 Mo. Leased SF 233,447 Months On Market 23.9 15.9% 1.7 P. 13 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 8
Rents Lease Comps Report Gross Asking Rent Per SF $28.33 Gross Starting Rent Per SF Gross Effective Rent Per SF Avg. Months Free Rent DEALS BY GROSS ASKING, GROSS STARTING, AND GROSS EFFECTIVE RENT DEALS BY ASKING RENT DISCOUNT DEALS BY MONTHS FREE RENT P. 14 and should be personally verified through personal inspection Copyrighted by and/or report with the licensed appropriate to Re/Max professionals. 5 Star Realty 746067. 9/29/2017 Page 9
DETAILED GENERAL EXPENSES 5441 N University Dr Coral Springs, FL 33065 Description Year 1 Year 2 Year 3 Year 4 Year 5 Total Expenses ($62,554) ($62,554) ($62,554) ($62,554) ($62,554) HOA ($30,630) ($30,630) ($30,630) ($30,630) ($30,630) Maintenance ($4,944) ($4,944) ($4,944) ($4,944) ($4,944) Taxes Real Estate ($26,980) ($26,980) ($26,980) ($26,980) ($26,980) and should be personally verified through personal inspection by and/or with the appropriate professionals. P. 15
9800 W Commercial Blvd VA Sunrise MOB VA Broward County Outpatient Clinic Sunrise, FL 33351 Class B Medical Building of 107,000 SF Sold on 5/25/2017 for $49,730,000 Research Complete (Part of Portfolio) buyer Healthcare Trust of America, Inc. 16435 N Scottsdale Scottsdale, AZ 85254 (480) 9983478 seller Duke Realty Corporation 600 E 96th St Indianapolis, IN 46240 (317) 8086000 vital data Escrow/Contract: Sale Date: 5/25/2017 Days on Market: Exchange: No Conditions: Bulk/Portfolio Sale Land Area SF: 405,326 Acres: 9.31 $/SF Land Gross: $122.69 Year Built, Age: 2008 Age: 8 Parking Spaces: 369 Parking Ratio: 3.31/1000 SF FAR 0.26 Lot Dimensions: Frontage: Tenancy: Single Comp ID: 3917466 Sale Price: $49,730,000 Status: Full Value Building SF: 107,000 SF Price/SF: $464.77 Pro Forma Cap Rate: Actual Cap Rate: Down Pmnt: Pct Down: Doc No: 0045461 Trans Tax: $3,691.07 Corner: No Zoning: B3 No Tenants: 2 Percent Improved: Submarket: Plantation Map Page: Parcel No: Property Type: Office income expense data Listing Broker Buyer Broker financing prior sale Date/Doc No: Sale Price: CompID: 10/10/2012 $342,000,000 2573863 P. 16 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 1
5850 Coral Ridge Dr, Unit 203 Heron Bay Corporate Center 1 Heron Bay Corporate Center Coral Springs, FL 33076 Class A Office Condo of 514 SF Sold on 4/3/2017 for $200,000 Public Record buyer Sr Properties One Llc 5850 Coral Ridge Dr Coral Springs, FL 33076 seller 203 Heron Llc vital data Escrow/Contract: Sale Date: 4/3/2017 Days on Market: Exchange: No Conditions: Land Area SF: 19,506 Acres: 0.45 $/SF Land Gross: $10.25 Year Built, Age: 2007 Age: 9 Parking Spaces: 200 Parking Ratio: 4/1000 SF FAR 2.31 Lot Dimensions: Frontage: Tenancy: Comp ID: 3885624 Sale Price: $200,000 Status: Condo Type: 514 SF Office Condo Building SF: 45,000 SF Price/SF: $389.11 Pro Forma Cap Rate: Actual Cap Rate: Down Pmnt: Pct Down: Doc No: 114315589 Trans Tax: Corner: No Zoning: B3 No Tenants: 25 Percent Improved: 90.0% Submarket: NW Broward/Coral Springs Map Page: Parcel No: 484105AA0100 Property Type: Office income expense data Listing Broker Buyer Broker financing prior sale Date/Doc No: Sale Price: CompID: 12/1/2016 $360,000 3784761 P. 17 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 3
2381 NW Executive Center Dr Peninsula Executive Center I Boca Raton, FL 33431 Class A Office Building of 100,000 SF Sold on 6/15/2017 for $31,924,898 Research Complete (Part of MultiProperty) buyer C. Talanian Realty Co., Inc. c/o David Coughlan 137141 Newbury St Boston, MA 02116 (617) 5364655 seller CDR Realty, L.L.C. c/o Ed Steinhardt 2424 N Federal Hwy Boca Raton, FL 33431 (561) 3957588 vital data Escrow/Contract: 120 days Sale Date: 6/15/2017 Days on Market: Exchange: Yes Conditions: 1031 Exchange Land Area SF: 133,267 Acres: 3.06 $/SF Land Gross: $239.56 Year Built, Age: 1998 Age: 18 Parking Spaces: 202 Parking Ratio: 4/1000 SF FAR 0.75 Lot Dimensions: Frontage: Tenancy: Single Comp ID: 3929526 Sale Price: $31,924,898 Status: Allocated Building SF: 100,000 SF Price/SF: $319.25 Pro Forma Cap Rate: Actual Cap Rate: 6.00% Down Pmnt: Pct Down: Doc No: 291590503 Trans Tax: $418,250 Corner: No Zoning: RB1 No Tenants: 3 Percent Improved: Submarket: Boca Raton West Map Page: Parcel No: Property Type: Office income expense data Listing Broker Estimated Net Income Net Operating Income Debt Service Capital Expenditure Cash Flow $3,585,000 HFF 1450 Brickell Ave Miami, FL 33131 (305) 4481333 Chris Drew, Hermen Rodriguez, Ike Ojala Buyer Broker No Buyer Broker on Deal financing prior sale Date/Doc No: Sale Price: CompID: 11/1/2000 $33,375,000 514577 P. 18 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 4
2385 NW Executive Center Dr Peninsula Executive Center II Boca Raton, FL 33431 Class A Office Building of 87,158 SF Sold on 6/15/2017 for $27,825,102 Research Complete (Part of MultiProperty) buyer C. Talanian Realty Co., Inc. c/o David Coughlan 137141 Newbury St Boston, MA 02116 (617) 5364655 seller CDR Realty, L.L.C. c/o Ed Steinhardt 2424 N Federal Hwy Boca Raton, FL 33431 (561) 3957588 vital data Escrow/Contract: 120 days Sale Date: 6/15/2017 Days on Market: Exchange: Yes Conditions: 1031 Exchange Land Area SF: 116,157 Acres: 2.67 $/SF Land Gross: $239.55 Year Built, Age: 1999 Age: 18 Parking Spaces: 150 Parking Ratio: 4/1000 SF FAR 0.75 Lot Dimensions: Frontage: Tenancy: Single Comp ID: 3929526 Sale Price: $27,825,102 Status: Allocated Building SF: 87,158 SF Price/SF: $319.25 Pro Forma Cap Rate: Actual Cap Rate: 6.00% Down Pmnt: Pct Down: Doc No: 291590503 Trans Tax: $418,250 Corner: No Zoning: RB1 No Tenants: 28 Percent Improved: Submarket: Boca Raton West Map Page: Parcel No: Property Type: Office income expense data Listing Broker Estimated Net Income Net Operating Income Debt Service Capital Expenditure Cash Flow $3,585,000 HFF 1450 Brickell Ave Miami, FL 33131 (305) 4481333 Chris Drew, Hermen Rodriguez, Ike Ojala Buyer Broker No Buyer Broker on Deal financing prior sale Date/Doc No: Sale Price: CompID: 11/1/2000 $33,375,000 514577 P. 19 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 6
Trend Report Dollar Volume Legend: Current Survey Sold Transactions Time Interval Quarterly Number of Transactions Total Dollar Volume Total Bldg Square Feet Total Land in Acres Total Land in SF Average Price Average Number of SF Average Price Per Bldg SF Median Price Per SF Average Number of Acres Average Number of SF(Land) Average Price Per Unit Median Price Per Unit Average Number of Units Actual Cap Rate Report Time Frame: 6/1/2017 9/29/2017 Sold Transactions 4 $109,680,000 294,672 15.04 655,142 $27,420,000 73,668 $372.21 $354.18 5.01 218,381 P. 20 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 8
Trend Report 2Q17 04/16/30/17 Sold Transaction Number of Transactions Total Dollar Volume Total Bldg Square Feet Total Land in Acres Total Land in SF Average Price Average Number of SF Average Price Per Bldg SF Median Price Per SF Average Number of Acres Average Number of SF(Land) Average Price Per Unit Median Price Per Unit Average Number of Units Actual Cap Rate 4 $109,680,000 294,672 15.04 655,142 $27,420,000 73,668 $372.21 $354.18 5.01 218,381 P. 21 Copyrighted report licensed to Re/Max 5 Star Realty 746067. 9/29/2017 Page 9
Cleveland Clinic Florida breaks ground on Coral Springs surgery center Ron Hurtibise Cleveland Clinic Florida logged another milestone in its marathon expansion through South Florida with a ceremony marking the start of construction of a new family health and ambulatory surgery center in Coral Springs. The 72,000 square foot Family Health and Ambulatory Surgery Center, scheduled to open next year, will offer specialty care, outpatient surgical services and imaging services, clinic officials said. It will include six operating rooms, 24 prep and recovery bays, two endoscopy suites, imaging services and 40 exam rooms. The center will enable patients throughout the region, as well as from Palm Beach County, to schedule surgeries without having to travel to the clinic s main P. 22
campus in Weston, said Dr. Wael Barsoum, Cleveland Clinic president. The company currently has no surgical facilities in Palm Beach County, Barsoum said. On hand for the ceremony, held inside an air conditioned tent, was a who s who of city officials, including the mayor, vice mayor, commission members, manager and fire chief. Mayor Skip Campbell said the expansion will provide another choice for residents of Coral Springs and surrounding communities, along with health care facilities by regional powers Holy Cross, Baptist Health, Sylvester Comprehensive Cancer Center, and Broward Health, which operates a 200bed hospital southwest of the intersection of North University Drive and West Sample Road. The community will have a lot more options to consider when seeking medical care, Campbell said. Cleveland Clinic Florida bought the 5.3acre site, at the southeast corner of the intersection of North University Drive and the Sawgrass Expressway, for $1.1 million in 1996, Broward County property records show. Campbell recalled a time when it was far from clear that Cleveland Clinic would be allowed to establish any presence in South Florida, let alone its eight locations in the region. I was here 30 years ago when hospital politics were trying to make Cleveland Clinic nonexistent in the state of Florida, Campbell said. The clinic has come a long way since establishing its South Florida beachhead in 1988. That was the year it opened a 76,000squarefoot outpatient center in Fort Lauderdale about the same size as the planned Coral Springs center. For more than a decade, the clinic occupied the building at 3000 W. Cypress Creek Road and another it purchased in 1990 near the ocean, as it fought local healthcare organizations and state regulators who were convinced the region didn t need more hospital beds. The state relented in 1997 and in 2001, the clinic opened its main campus in Weston, where demand for hospital services was heavy and growing. Today, Cleveland Clinic Florida facilities are also in Parkland, Palm Beach Gardens and West Palm Beach. P. 23
Another facility is being eyed for Wellington, along with a location north of the Coral Springs site that Barsoum declined to identify. The company still believes demand for its services exists in South Florida as the region continues to grow, Barsoum said. I would not say the area is saturated [with hospitals] at all, he said. The 150 bed Weston hospital is full almost every day, and there were days last week when the hospital had 190 patients. Transfers of really sick patients from other hospitals are increasing. Chances are if someone needs a kidney, liver or heart transplant, we are going to do it. He said the company is monitoring the state Legislature for enactment of a bill that would enable outpatient surgery centers to keep patients overnight. If it passes, overnight stays would take place at the new Coral Springs center, he said. rhurtibise@sunsentinel.com, 9543564071, twitter: twitter.com/ron_hurtibise Copyright 2017, Sun Sentinel Healthcare Providers Medical Procedures Cleveland Clinic P. 24
DEMOGRAPHICS 5441 N University Dr Coral Springs, FL 33065 POPULATION 1 MILE 3 MILE 5 MILE Male 5,434 (47.33 %) 52,235 (47.75 %) 127,659 (48.07 %) Female 6,046 (52.67 %) 57,158 (52.25 %) 137,909 (51.93 %) Total Population 11,480 109,393 265,568 AGE BREAKDOWN 1 MILE 3 MILE 5 MILE Ages 04 608 (5.30 %) 6,375 (5.83 %) 14,274 (5.37 %) Ages 59 804 (7.00 %) 8,435 (7.71 %) 18,682 (7.03 %) Ages 1014 788 (6.86 %) 8,307 (7.59 %) 18,489 (7.03 %) Ages 1519 848 (7.39 %) 8,472 (7.74 %) 18,772 (7.07 %) Ages 2024 914 (7.96 %) 8,102 (7.41 %) 18,334 (6.90 %) Ages 2529 819 (7.13 %) 7,247 (6.62 %) 16,882 (6.36 %) Ages 3034 708 (6.17 %) 6,425 (5.87 %) 15,345 (5.78 %) Ages 3539 634 (5.52 %) 6,122 (5.60 %) 14,982 (5.64 %) Ages 4044 649 (5.65 %) 6,527 (5.97 %) 16,360 (6.16 %) Ages 4549 755 (6.58 %) 7,249 (6.63 %) 18,343 (6.91 %) Ages 5054 825 (7.19 %) 7,529 (6.88 %) 18,850 (7.10 %) Ages 5559 818 (7.13 %) 7,278 (6.65 %) 18,046 (6.80 %) Ages 6064 699 (6.09 %) 6,325 (5.78 %) 15,627 (5.88 %) Ages 6569 514 (4.48 %) 4,853 (4.44 %) 12,341 (4.65 %) Ages 7074 344 (3.00 %) 3,496 (3.20 %) 9,223 (3.47 %) Ages 7579 228 (1.99 %) 2,400 (2.19 %) 6,744 (2.54 %) Ages 8084 182 (1.59 %) 1,568 (1.43 %) 4,916 (1.85 %) Ages 85+ 343 (2.99 %) 2,683 (2.45 %) 9,358 (3.52 %) P. 25
DEMOGRAPHICS 5441 N University Dr Coral Springs, FL 33065 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE Median Income $89,588 $72,809 $66,762 Less than $10,000 140 1,190 3,941 $10,000 $14,999 111 1,157 3,294 $15,000 $19,999 235 1,656 3,985 $20,000 $24,999 152 1,317 4,607 $25,000 $29,999 255 1,437 3,627 $30,000 $34,999 245 1,422 5,000 $35,000 $39,999 251 1,768 4,679 $40,000 $44,999 168 1,485 4,489 $45,000 $49,999 94 1,328 3,981 $50,000 $59,999 151 2,878 7,834 $60,000 $74,999 275 3,504 10,510 $75,000 $99,999 538 5,125 13,674 $100,000 $124,999 535 4,086 9,850 $125,000 $149,999 386 2,493 5,717 $150,000 $199,999 334 2,871 5,729 Greater than $200,000 314 3,899 5,958 HOUSING 1 MILE 3 MILE 5 MILE Housing Units 4,689 41,000 107,479 Occupied Units 4,197 37,481 97,056 Owner Occupied Units 3,162 25,673 70,085 Renter Occupied Units 1,035 11,808 26,971 Vacant Units 492 3,519 10,423 RACE DEMOGRAPHICS 1 MILE 3 MILE 5 MILE Population Non Hispanic White 8,952 78,198 195,293 Population Black 1,342 19,039 41,974 Population Am In/Ak Nat 1 25 141 P. 26
LOCATION MAP 5441 N University Dr Coral Springs, FL 33065 P. 27