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The Capital Real Estate Group (CREG) – U.S. Healthcare Investment Sales announced the sale of Maitland Medical Center located in Maitland, Florida, part of the Orlando MSA.

CREG acted as the Seller’s exclusive advisors in the $17,000,000 sale of the 100% leased, Class ‘A’ multi-tenant MOB.

The 43,885-square-foot building is anchored by a multi-specialty surgery center which is a joint venture between Surgical Care Affiliates and seventeen (17) physicians who operate at the ASC.

 

Source:  HREI

 

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A partnership between two South Florida investment firms sold a Weston office building for $8.9 million.

Highline Real Estate Capital, based in Miami, and Sefira Capital, based in North Miami Beach, sold the 27,000-square-foot building at 1040 Weston Road, according to a press release.

The buyer is Shaked 21 LLC, managed by husband and wife Sagi and Anat Shaked. Sagi Shaked is a personal injury attorney and real estate agent in Aventura. Anat Shaked is also an attorney, according to records.

The real estate investment firms bought the building, constructed in 1990, in a two-building, $13 million deal in 2017, according to the release.

The building’s occupancy rose from 84 percent to 100 percent over the three years. The partnership is led by Highline principal David Moret. Sefira was founded by managing partners Aby Galsky and Mijael Attias.

Avison Young represented the seller.

The building is anchored by JPMorgan Chase, but most of the tenants are medical use, including Advanced OBGYN Institute, Sweet Tooth Pediatric Dentistry and Zombek Orthodontics.

 

Source:  The Real Deal

 Cleveland Clinic Florida purchased 44 acres near its Tradition Hospital from the city for $5.7 million, but what might be built there remains unknown.

The health-care giant has grown its operation in Tradition significantly since acquiring Martin Health System, the owner of Tradition Hospital, nearly two years ago.

Last year it took over the former Vaccine & Gene Therapy Institute of Florida facility in Tradition, renamed it the Florida Research and Innovations Center and in April transformed it into a global and emerging-pathogens center to conduct COVID-19 research and more.

While the land deal lays the groundwork for continued expansion in Tradition, hospital officials said they have no immediate plans for the newly purchased property in Southern Grove.

For now, hospital spokesman Scott Samples said, Cleveland Clinic is still analyzing what medical services the community needs.

Cleveland Clinic still could develop the site, north of Discovery Way, for the  $30 million Neuroscience Center of Excellence that Martin Health proposed in August 2018.

The neuroscience center was proposed to meet the need for stroke treatment, brain and spine surgery and neurology on the Treasure Coast and northern Palm Beach County, officials said.

At the time, officials said It would create about 150 jobs over five years, and Martin Health even received an economic-incentives package from the city of Port St. Lucie to build the center.

Since then, however, Cleveland Clinic has incorporated parts of that program into existing buildings at Tradition Hospital, Samples said.

In purchasing the 44 acres, Cleveland Clinic told the city only that it would develop at least 400,000 to 500,000 square feet of medical offices to conduct scientific research and development.

Cleveland Clinic paid $2 million less than the land’s $7.7 million appraisal. The city bought the land in 2018 for about $400, according to the Property Appraiser’s Office, after Tradition Land Company bailed out on the $5.4 million it owed in property taxes and assessments.

Port St. Lucie officials, who approved the land sale Monday, said they were unaware of any plans Cleveland Clinic has for the property.

 

Source:  TC Palm

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Fort Pierce-based Lawnwood Regional Medical Center & Heart Institute, owned by Nashville, Tenn.-based HCA Healthcare, will invest $100 million into a five-story tower, according to TCPalm

Construction on the 92,500-square-foot tower is expected to start Jan. 11. It will be completed in several phases.

The first phase of construction, expected to be completed in 2023, will include building the first three floors of the tower. The first phase will add 32 medical surgical beds, three operating rooms and expanded preoperative and recovery areas.

Phase two will add a new emergency department, while phase three and four will add the fourth and fifth floor and create space for more beds.

The fifth phase includes building a 550-space parking garage.

 

Source:  Becker’s Hospital Review

13200 NW Nano Court

Avison Young facilitated a 42,500-square-foot lease agreement between Concept Companies and Ology Bioservices for a new build-to-suit lab space on the heels of a federal government contract for the company to expand production capabilities, including vaccines and therapeutics for COVID-19 once finalized. Concept Companies will develop the facility, conveniently situated adjacent to Ology Bioservices’ headquarters at 13200 NW Nano Court in Alachua, just northwest of Gainesville, Florida.

Avison Young’s Nick Banks, Principal and Managing Director of the firm’s North Florida operations, represented the developer and the tenant during the transaction.

“The race for the COVID-19 vaccine continues to drive demand for life sciences real estate nationwide, and the Ology Bioservices deal is an example of the sector’s tremendous growth in the Gainesville area,” said Banks. “The built-to-suit space represents an expansion in an ideal setting near life science-focused research parks and the UF Innovate Sid Martin Biotechnology Incubator, the #1-ranked biotech incubator in the world.”

Ology Bioservices is a biologics Contract Development and Manufacturing Organization (CDMO) which specializs in the manufacturing of vaccines, antibodies, recombinant proteins, viral products and nucleic acids used for protecting both military and civilian populations against infectious diseases. The company also supports programs in gene and cell therapy.

“The support from city leaders of both Alachua and Gainesville, the assistance from the UF and Santa Fe College in providing strong science-oriented curricula, and the dedicated and hard-working employees, creates the healthy environment to keep our business expanding,” said Dr. Peter H. Khoury, Ology Bioservices President and CEO. “Avison Young and Concept Companies are valued partners who have helped our team navigate the complexity of expanding space for our growing business.”

In addition to the Sid Martin Biotech Incubator in Progress Park, Ology Bioservices is near the Santa Fe College Perry Center for Emerging Technologies and the fully leased Foundation Park research facility that Concept Companies developed and sold in April for $12 million.

“The collaboration on this project between the Concept Companies team, Ology Bioservices, our consultants, and the municipality is a great example of how success can be achieved for our clients when there is an urgent timeline,” said Brian Crawford, Concept Companies CEO. “The facility was entitled and will be under construction within four months of a notice to proceed.”

Concept Companies recently broke ground on Ology Bioservices’ new space and anticipates completion in Summer 2021. Crawford played an integral role in expediting the design and permitting for the facility.

“We look forward to our continued investment in and expansion of the research district in the City of Alachua and Greater Gainesville Community,” continued Crawford.

 

Source:  HREI

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Lake Nona is slated to get a new nonprofit rehabilitation hospital to provide care for patients who have suffered from brain, spinal cord or orthopedic injuries or strokes.

Jacksonville-based Brooks Rehabilitation will start construction on a 60-bed rehab hospital in late 2021 inside the master-planned community in southeast Orlando. The organization expects to hire 170-200 new employees once the hospital is built, CEO Doug Baer told Orlando Business Journal.

A construction team for the project has not been selected.

“We are in the early stages of planning for the new hospital, so we don’t have the specific details yet,” Baer said. “It will be located in the heart of Lake Nona’s health and life sciences district.”

The hospital will have the space to double its bed count eventually if needed.

“Brooks Rehabilitation’s hospital brings a new, specialized, medically complex rehabilitation solution to the Central Florida community further enhancing our region’s robust health care ecosystem with plenty of room to grow into the future,” Rasesh Thakkar, senior managing director of Tavistock Group, said in a prepared statement. “What impressed us further about Brooks is their commitment to research and education in addition to specialized care, enhancing people’s lives not just in the present, but innovating continuously with an eye to a brighter future.”

When completed, the hospital will join Nemours Children’s Hospital, Orlando VA Medical Center and the soon-to-open UCF Lake Nona Medical Center in Lake Nona. UCF’s hospital with Nashville, Tennessee-based HCA Healthcare Inc. is set to open in March 2021.

In Central Florida, Brooks operates a 40-bed inpatient rehabilitation hospital in partnership with Halifax Health in Daytona Beach. Brooks’ portfolio includes a research center, 40 outpatient therapy clinics, assisted-living and memory care facilities, two skilled nursing facilities, a 160-bed hospital in Jacksonville and a future second hospital in Jacksonville set to break ground in the coming months.

The planned Brooks hospital in Lake Nona is not the only rehab hospital being built in Central Florida. Birmingham, Alabama-based Encompass Health Corp. plans to build a 100-bed, 83,500-square-foot facility in Clermont on State Road 50. That facility will be built out in multiple bed phases and the hospital is expected to open in 2022.

 

Source:  OBJ

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The Cape Coral Economic Development Office reveals that there are six new medical offices planned to go up in that area. These long-awaited projects will help Cape Coral residents find more convenient care.

On the corner of Kismet Parkway and Del Prado Boulevard, construction crews are building a new medical clinic. Catherine Allen of North Fort Myers says, it’s about time. “I know that when people go to the emergency room they have to wait forever,” said Allen.

Cape Coral’s Economic Development Manager Ricardo Noguera said that the construction marks the beginning of a medical building boom, of sorts. It’s just one of six new medical offices set to open in Cape Coral.

“We are now at 200,000 people. We are more than double the population of Fort Myers so the medical community is taking note and they’re realizing do I want my folks to continue crossing that bridge or do I want to come to my folks? And they’re now coming,” said Noguera.

Noguera says he will continue to fight the good fight and get even more medical facilities to come to the area. Encompass Health is set to open on Pine Island Road.

The 80-room inpatient rehab hospital will be the first of its kind in Cape Coral. Annie Grove lives in Cape Coral and says they need more full-service hospitals.

“I think they’re always needed, extra hospitals, especially with the older generation here,” Grove said.

The city projects that all six of the new medical facilities could be open by as early as 2021.

 

Source:  Wink News

2000, 2008 and 2010 N. Orange Ave.

An Orlando medical real estate developer is looking to sell a trio of buildings near downtown.

Developer Tim Majors’ Headquarters Investments LLC wants to sell three properties — 2000, 2008 and 2010 N. Orange Ave. — for $13 million, according to LoopNet. NAI Realvest Partner Paul Partyka is marketing the properties, which have a combined market value of $4.1 million, according to Orange County records.

The properties include Majors’ headquarters, which was named an OBJ “coolest office space” in 2019, the vintage car-themed M Bar and the rooftop M Lounge that offers skyline views of downtown.

Majors bought the properties for roughly $3.6 million between July 2015-May 2018, according to Orange County records. The properties feature a 21,150-square-foot office building built in 1996, a 5,000-square-foot retail structure built in 1954 and a 5,057-square foot retail building built in 1928.

The properties — on 0.82 acres — can be sold separately or together and “can be combined with other adjacent properties to make a major presence especially if in the medical field or any complementary use,” according to marketing materials.

 

Source:  OBJ

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A recent virtual groundbreaking event officially began a clinical expansion project at West Kendall Baptist Hospital, part of Baptist Health South Florida.

At the heart of the project, scheduled to be completed in early 2023, is a new four-story, 126,000-square-foot tower that will house 35 additional emergency department treatment rooms, 70 new observation/inpatient beds and growth areas for imaging services and more.

The groundbreaking event on Nov. 18 was streamed live via Zoom and hosted by Lourdes Boue, CEO of West Kendall Baptist Hospital, and Aida Shafer, chair of the West Kendall Baptist Hospital Board of Directors, alongside a group of socially distanced Baptist Health executives and community leaders.

“Since our opening in 2011, we have been a vital part of the neighborhood,” Boue said during the event. “We are committed to providing an excellent patient experience along with the most advanced technology. This expansion is an investment in our community.”

When it opened, West Kendall Baptist Hospital was Miami-Dade County’s first non-replacement hospital in more than 35 years. The hospital supported a vision of West Kendall as a convenient central hub where area residents can live, work and play, and the campus’ award-winning design anticipated rapid growth in the area.

The new construction will match the modern Mediterranean style of the existing hospital and feature the same eco-friendly features that earned the hospital LEED Gold certification for Leadership in Energy & Environmental Design, a green building certification program used worldwide.

West Kendall Baptist Hospital is part of Baptist Health South Florida, the largest healthcare organization in the region, with 11 hospitals, nearly 23,000 employees, more than 4,000 physicians and more than 100 outpatient centers, urgent care facilities and physician practices spanning across Miami-Dade, Monroe, Broward and Palm Beach counties.

 

Source:  Community Newspapers

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Clearwater, Fla.-based Morton Plant Hospital Association purchased a medical office building and vacant land, both located north of the hospital, the Catalyst reported Nov. 25.

Morton Plant paid $1.4 million for the assets. The association owns several vacant parcels of land on the block but does not own the entire block.

The medical office building is 13,200 square feet. It formerly housed the Orthopaedic Surgery Center of Clearwater.

Morton Plant is exploring options for the property, and will pursue deals for other plots on the block.

 

Source:  Becker ASC