UHealth, the health care division of the University of Miami, has acquired a medical office building in Deerfield Beach for $16.4 million. The 45,136-square-foot property is located at 1192 East Newport Center Drive and is currently leased to the Sylvester Comprehensive Cancer Center, part of UHealth.
The purchase price equates to about $363 per square foot, which is approximately $7 million more than what the previous owner paid 14 years ago. The seller was an affiliate of Welltower, a company based in Toledo, Ohio. Welltower had bought the 3.1-acre site for $9.5 million in 2011 as part of its broader investment in medical office buildings. The sale is part of Welltower’s ongoing effort to sell off a portfolio valued at $6 billion.
Built in 2001 within the Newport Center business park, the facility includes a radiation oncology center and a chemotherapy infusion unit.
UHealth already owns another nearby medical office building at 1300 East Newport Center Drive, which it purchased for $8.2 million in 2018.
According to information on UHealth’s website, this latest acquisition supports its strategy to expand beyond its main campus in Allapattah’s Miami Health District. Earlier this year, UHealth leased additional space at Northwest 87th Avenue and Northwest 53rd Terrace in Downtown Doral for a new medical outpost that will provide services from the Bascom Palmer Eye Institute and physical therapy programs.
The health system also leases the six-story UHealth Doral Medical Center within Downtown Doral—a large mixed-use community developed by Codina Partners.
In December last year, UHealth acquired three commercial properties near its Allapattah campus for a combined total of $68 million. These included a strip mall anchored by medical offices and a parking lot north of Jackson Memorial Hospital. In summer 2024, UM paid $40 million for a former Macy’s furniture store at 13251 South Dixie Highway in Pinecrest as part of potential further expansion plans.
“
