NYU Langone Health | Palm Beach Gardens, FL

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire the fee simple interest in a free-standing, single-tenant NYU Langone Health outpatient medical facility facility located at 4074 Northlake Boulevard in Palm Beach Gardens, Florida (“Property” or “Asset”). The Property comprises a 10,068 square foot medical building situated on a 1.37-acre parcel and was originally constructed in 2000, with a comprehensive, tenant-specific renovation scheduled for completion in 2026. The Asset is 100% leased to New York University (Aa2 credit rating), on behalf of its Grossman School of Medicine, under a brand-new 10-year NNN lease featuring 2.50% annual rent escalations and minimal ongoing landlord responsibilities.

The Property is operated as an NYU Langone primary care facility, delivering comprehensive outpatient medical services focused on preventive care and long-term health management. Services include annual physicals, immunizations, routine screenings, and the diagnosis and treatment of a broad range of common medical conditions. Care is provided by internal medicine and family medicine physicians, with obstetrician–gynecologists serving as primary care providers for women and pediatricians delivering primary care services for children.

The lease is backed by the credit of New York University, a globally recognized private research institution founded in 1831, with credit ratings of AA- from S&P and Aa2 from Moody’s. NYU’s healthcare enterprise, NYU Langone Health, operates seven inpatient hospitals and more than 320 outpatient care sites and reported $15.4 billion in operating revenue in FY2025. The Palm Beach Gardens location represents a strategic component of NYU Langone’s expanding South Florida footprint, targeting long-term growth in one of the region’s most affluent and fastest-growing markets.

Strategically positioned along Northlake Boulevard (45K VPD), the Property benefits from immediate adjacency to a dense retail corridor anchored by Publix and adjacency to Interstate 95 (55K VPD). The surrounding trade area is supported by exceptional demographics, including average household incomes exceeding $121K within a five-mile radius and population growth of 22.1% since 2010. Palm Beach Gardens is rapidly evolving into a regional healthcare destination, driven by substantial investment in new hospitals, ambulatory care centers, and medical office developments that continue to elevate demand for high-quality outpatient facilities.