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Brokerage
Posted: May 26, 2026
Saugatuck Commercial Real Estate executes full lifecycle real estate deal culminating in $20.4 million medical campus sale
Naples, FL Saugatuck Commercial Real Estate (SCRE) closed the off-market sale of the Southbrooke Medical Campus for $20.4 million. The sale to MMRE Acquisitions LLC (Montecito Medical) represents the final chapter in a six-year lifecycle development project brokered by Penny Wickey, principal of SCRE.
The project began in November 2020, when Wickey represented the Westport-based Gault Family Companies in acquiring the raw, undeveloped 5.2-acre parcel on Immokalee Rd. Following the land acquisition, Gault Family Cos. developed the site into a 40,000 s/f medical destination consisting of two buildings located at 6750 & 6770 Immokalee Rd
Transitioning the property from construction to operational success, Wickey partnered with Naples-based LQ Commercial Real Estate to manage agency leasing. Together, the brokerage teams achieved 100% occupancy across the class-A clinical office spaces by mid-June 2024, securing a roster of high-caliber healthcare tenants.
Capitalizing on peak asset value and strong tenant stabilization, Wickey subsequently represented Gault Family Cos. in negotiating the off-market disposition of Southbrooke Medical Campus to Montecito Medical inQ1 2026, which recently finalized at the $20.4 million purchase price. The transaction underscores SCRE’s cross-regional capability to manage intricate commercial transactions from raw land acquisition through development stabilization and institutional disposition.
SCRE is a full-service commercial real estate brokerage company located in Westport, Conn.
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