Northwest Medical Park, Phase 2, plans to welcome its first tenants July 1, 2009. The 45,000-square-foot building broke ground in November, 2008. Located on the campus of Northwest Medical Center on State Road 7 in Margate, Florida, it is the third building at the campus developed by The Greenfield Group and complements its sister building to the south.
The project is owned by physician tenants and The Greenfield Group. The two previous Northwest projects were structured under this model. According to Mike Hlatki, vice president of development for The Greenfield Group, the physician partnership model enables physicians to benefit from ownership of real estate while minimizing their risk and upfront financial commitment.
"We’ve worked with so many physicians over the years who want ownership in a project but may not have realized from the start that there are better alternatives to condominiums and stand-alone ownership of a building," said Hlatki. "We believe strongly that this is the best choice because we’ve successfully developed and operated dozens of them around the country."
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