Miramar, Florida – A university campus in Miramar, housing two major healthcare schools, has been sold for $18.8 million. The agreement indicates the continuous need in the area for specifically designed educational facilities.
St. Louis-based CRG, working through its affiliate 10315 USA Today Way LLC, sold the 68,702-square-foot facility housed at 10315 USA Today Way in the Miramar Park of Commerce. Representing Michigan-based Vault Equity Partners, the buyer is Vault Avenida II Miramar LLC. International Finance Bank, headquartered in Miami, facilitated the purchase with an $11.28 million mortgage.
Given its last sale in 2021 for $18 million, the acquisition valued the property at $274 per square foot, indicating a minimal appreciation. After American Medical Depot, the building’s former occupant left the grounds, underwent major modifications at that time. Spending $11.25 million, CRG converted the previous warehouse into a dual-use facility serving Ross University School of Medicine’s and Chamberlain University College of Nursing’s educational needs.
Originally built in 1985 as a printing press site, the property has changed dynamically throughout the years. Its most recent form as a center for healthcare education emphasizes Miramar’s busy commercial district’s adaptability and fortitude of real estate.
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Lead by Adam Jahnke, Vault Equity Partners is known for purchasing buildings with long-term, single-tenant leases. This purchase fits their approach of seeking steady, profitable assets. The participation of Ross University and Chamberlain University guarantees that the site remains an excellent resource in the domains of education and healthcare.
The sale emphasizes the expanding relevance of specialized education facilities, especially those serving in highly sought-after sectors like medical and nursing. The agreement also shows that smart repurposing of older structures can pay out financially.
Reflecting the larger patterns in real estate and economic growth in South Florida, the Miramar campus is positioned to remain a pillar of the local community with its strong links to both education and healthcare.
