Alliance Consolidated Sells Hallandale Beach Medical Office Building for $6M

Originally published by The Real Deal

Alliance Consolidated Group of Companies sold a Hallandale Beach medical office building fully leased to a dialysis center for $5.9 million.

Records show the Bannockburn, Illinois-based commercial real estate investor, through an affiliate, sold the building at 22 Southwest 11th Street to 30 Sherman Ave. Realty. It was a 1031 exchange, according to a press release.

The buyer lists the same address as Yonkers-based blood center Metro Blood Service, and is led by Metro Blood manager Laura Petitti, state corporate records show.

A dialysis center run by Denver-based DaVita HealthCare Partners signed a 10-year lease for the building in November 2019, according to the release. DaVita HealthCare, founded in 1979 and led by Javier Rodriguez, is the parent company of DaVita Kidney Care and DaVita Medical Group.

Isaiah Harf of Stan Johnson Company represented Alliance Consolidated in the deal.

The two-story, 10,000-square-foot building was built in 2007 on 0.8 acres, property records show. Alliance Consolidated bought it in 2014 for $4 million, according to a deed.

Alliance Consolidated, founded in 1995 and led by Ben Reinberg, invests in industrial, retail and office properties, according to its website.

Medical offices are among the strongest real estate asset classes, with several buildings trading in recent months. In March, South Florida investor Allen Chelminsky bought medical offices at 2001 and 2007 Palm Beach Lakes Boulevard in West Palm Beach for $7 million.

Chelminsky also bought a pair of Lake Worth Beach medical offices at 2290 and 2328 10th Avenue North in October for $10.9 million. And in 2019, he bought Lauderhill medical offices at 7100 West Commercial Boulevard and 7200 West Commercial Boulevard for $5 million.

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