victory park cape coral

Plans are in the works for Cape Coral to get a massive, 140-acre commercial development project called Victory Park.

Blue Waters Development Group LLC announced the plans last week to anchor the project with a 125-room Wyndham Garden hotel, commercial space and 110,000 square feet of warehouse and medical office space at 2313 NE 24th Ave.

The southeastern-most lot, sitting at the northwest corner of Diplomat Parkway and NE 24th Avenue, could become a beacon of construction activity sometime later this year. It is just next door to the Veterans Administration clinic.

“The VA medical center is bringing over 350,000 patients per year on a regular basis,” said Danny Aguirre, manager of Blue Waters Development, which was established in Cape Coral about two years ago. Aguirre said he previously developed projects on the east coast of Florida. This will be the group’s first project in Cape Coral.

“The army reserve base is doing reserve troop training on a monthly basis on the weekends,” Aguirre said of another draw to the hotel. “That is a driver that we felt competent in being able to service them by putting a quality hotel product there.”

Aguirre said he wasn’t sure on a timetable for breaking ground. He remained hopeful to do so by mid-summer if not sooner.

“With COVID going on, it just set the permitting process in a tailspin,” Aguirre said. “We really don’t know. With some of the workers working remotely, it’s going to be what it needs to be. I wish I could set a timeline to it. If we can get it taken care of by the second quarter or third quarter, we’d like to move forward in that direction.”

The hotel would be the first phase of what could become a major development, as the land stretches north to where Kismet Parkway becomes Littleton Road at NE 24th Avenue. The property continues east to Corbett Road.

The northernmost lot sold for $2.3 million in July 2019, purchased by Alex Diaz Trust according to Lee County property records.

The same trust went on to purchase the southern two parcels for $5 million and $3.6 million in September 2019, records show.

Real estate broker Steve Komondorea of Real America Realty is handling pre-leasing for the office and warehouse space.

The new development will feed off the V.A. clinic and form a synergy with it, he said.

“It has the second-highest volume of veteran appointments in the state of Florida,” Komondorea said. “We have had conversations with the people who are directing the V.A. Clinic. We wanted to be a compliment to them. So veterans who come with family members, they will have a place to put up their heels. That was one of the main inspirations to do this at that location.”

Blue Waters is marketing the development in preparing for groundbreaking.

“We want medical professionals to know that we have this medical facility coming up,” said Komondorea, who hopes medical professionals will recognize that area could fulfill a need.

“There’s some things the VA does, and there’s some things the VA doesn’t,” he said. “We’d like to be able to generate interest to compliment what they do. We’ll be working real hard to develop a quality product.”


Source: News-Press

tampa general hospital rehab facility

Tampa General Hospital and Kindred Healthcare, LLC broke ground on a freestanding 59-bed inpatient rehabilitation hospital in the medical district of downtown Tampa. Announced as a joint venture in May 2020, the new facility will help meet the growing needs of Tampa Bay, the region and the state for rehabilitation recovery and care.

“Rehabilitation care plays an important role in the recovery of patients who have experienced debilitating illnesses and injuries,” stated John Couris, president and CEO of Tampa General Hospital. “As part of our vision to be the safest and most innovative academic health system in America, we’re proud to partner with Kindred to employ the latest innovation and technology to enhance access to these crucial services.”

The new rehabilitation hospital is located on Kennedy Boulevard between Oregon Avenue and Willow Avenue and brings downtown Tampa one step further in the development of a fully realized medical district that will attract the best scientists and physicians to the region and transform the area into a center for healthcare innovation. The rehabilitation hospital is projected to be approximately 80,000 square feet and cost $35 million. Kindred will manage the day-to-day operations of the new hospital, which is projected to employ more than 140 caregivers and staff. Tampa General Hospital will provide medical support services, such as imaging, lab and surgical procedures. It is expected to officially open in February 2022.

Tampa General Hospital currently operates an inpatient rehab facility that is accredited by the Commission on Accreditation of Rehabilitation Facilities (CARF). Clinical teams will ultimately move to the new site, while Tampa General Hospital will continue to provide pediatric and outpatient rehabilitation at alternate sites.

A small, physically distant groundbreaking ceremony was held on January 18, 2021. In attendance were John Couris, president and CEO, Tampa General, Russ Bailey, president, Kindred Rehabilitation Services, and Cleve Haralson, vice president of capital development for Kindred Healthcare.

“Breaking ground on Kindred’s first freestanding inpatient rehabilitation hospital in Florida is a great way to start 2021,” said Russ Bailey, president, Kindred Rehabilitation Services. “Working together with Tampa General, we can bring a dedicated intensive rehabilitative facility to the Tampa Bay region that will help patients achieve their best possible recovery.”

The new inpatient rehabilitation hospital will care for adults recovering from conditions such as stroke, neurological disease, injury to the brain or spinal cord and other debilitating illnesses or injuries. The new facility will offer state-of-the-art technology and feature all private rooms. It will also have a secured brain injury unit with private dining and a therapy gym.

“The COVID-19 pandemic has underscored the need for inpatient rehabilitation services,” noted Couris. “Some patients need specialized help with ventilator recovery and rebuilding their strength and function. While we hope that the pandemic is not a major consideration at the time of opening the new rehabilitation hospital, it’s good for our region to know that we’re here to help when needed.”

Health Affairs Journal projects that 700,000 survivors of COVID-19-related hospitalization will require inpatient rehabilitative care. “We have the resources to help patients reduce disability and create the best opportunity for patients to achieve a full recovery,” said Bailey. “Tampa General’s long experience as a CARF-accredited rehabilitation hospital is an added benefit and will help establish our new facility as a strong resource for the community.”

Transitional living apartments designed to simulate a residential apartment will enable patients to heal in a personalized and private environment as they prepare to return to independent living. Patients will also experience specially planned rooms to treat dialysis patients and programs dedicated to neurological conditions, stroke, brain injury and amputation recovery.


Source:  TGH


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A new hospital and medical office could be developed in Palm Beach Gardens if the city approves the plan for land once slated for a biotech project.

Pasteur Commercial Investments, an affiliate of Kolter Group, submitted site plan and development plan amendment applications to the city for the 32.3-acre site along Pasteur Boulevard, just south of Donald Ross Road and east of Interstate 95.

Universal Health Services has the property under contract, said Kevin DiLallo, group VP of UHS and CEO of Manatee Healthcare System.



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A number of projects are expected to grow the presence of health care providers in the area this year.

Each of the region’s three largest health care systems — Orlando Health, AdventHealth and HCA Healthcare Inc. — are slated to open new facilities, including hospitals, medical office buildings and freestanding emergency rooms.

These established players aren’t the only ones with construction projects on the books. Jacksonville-based Brooks Rehabilitation plans to open a rehab hospital in Lake Nona, its first in the Orlando area.

Non-health care companies also have medical projects in the works. For example, Bentonville, Arkansas-based Walmart Inc. is bringing a new health care concept to a few of its local stores.

Medical construction projects like these represent opportunities to add construction jobs, as well as provide huge-value projects for companies. Additionally, new health care facilities are needed in areas where the population is growing.

One example is multinational construction firm Skanska signing a $64 million contract to build Orlando Health’s 370,000-square foot, $341 million Orlando Health Jewett Orthopedic Institute. The project — which is expected to be completed by second-quarter 2023 — will create roughly 1,000 temporary construction jobs along with 500 permanent health care jobs.


Source:  OBJ

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A medical office building could be developed next to the HarborChase of Wellington Crossing assisted living and memory care facility.

SGD Wellington Crossing LLC, an affiliate of Dallas-based Silverstone Senior Living, filed a land-use amendment with Palm Beach County for the 17.8-acre property at 8785 Lake Worth Road, near Wellington. It currently has a 136-unit assisted living facility, which was developed in 2018.


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6262 Sunset Drive Miami

An Atlanta-based real estate investment firm paid $36.7 million for an eight-story South Miami medical office building.

An affiliate of the Ardent Companies bought the building, known as Sunset Medical, at 6262 Sunset Drive, according to records. Ardent is led by Matt Shulman.

The seller is an affiliate of USAA Real Estate Company. The San Antonio-based real estate investment firm bought the building, built in the 1980s, for $40 million in 2015. USAA is led by Len O’Donnell.

The building hit the market unpriced in February, according to an online listing. Occupancy was 55 percent at the time with a net operating income of $1.2 million.

In May, Transwestern Real Estate Services’ South Florida agency leasing team announced it was hired to exclusively lead leasing efforts for the building and reposition it from traditional office to medical office space, according to a statement from the time.

The building had 43,000 square feet of availability at that time, after Interval International consolidated to the top two floors. Interval is an affiliate of Marriott Vacations Worldwide.


Source:  The Real Deal

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CBRE U.S. Healthcare and Life Sciences Capital Markets recently announced the sale of the Woodside Health Florida Coast MOB Portfolio (the “Portfolio”).

The Portfolio consists of three medical office buildings that are 97% leased to a diverse and established mix of tenants. Complementary and highly specialized practices housed within the properties create an ecosystem for referrals amongst physicians that supports tenant retention. Specialties within the Portfolio include oncology, radiology, urgent care, orthopedics and neurology, among others.

Oak Point I and II are located at 3730 & 3755 7th Terrace in a medical office subdivision in Vero Beach, Florida, about an hour north of West Palm Beach. The two buildings total ±41,395 square feet and are strategically situated less than half a mile from the Cleveland Clinic Indian River Hospital, a 332-bed short term acute care hospital with emergency services. Estero Medical Center, is located at 10201 Arcos Avenue on Florida’s west coast, just south of Fort Myers. The ±35,968-square-foot, two-story property is home to nine medical tenants. It sits a half a mile west of I-75 which allows for exceptional accessibility for patients and providers.


Source:  HREI

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A Manatee County orthopedic practice recently announced plans to build a new headquarters and medical facility — in what could be one of the largest construction projects of 2021 in the Bradenton area.

The project, for Coastal Orthopedics, calls for an 88,000-square-foot facility on a 17-acre parcel on State Road 64, just east of Interstate 75. Coastal has had a large presence in east Manatee County for 16 years, and this move, says Coastal Orthopedics President Dr. Arthur Valadie, recognizes that and the area’s continued rapid population surge.

“We’ve made a huge commitment to east County by putting our largest location, to include all of our administrative offices, out there,” Valadie says in an interview with the East County Observer, sister paper of the Business Observer. “We think that’s going to allow us to provide care for that whole corridor, all the way from Parrish and Ellenton, all the way down to that huge amount of growth in Lakewood Ranch and south down to Sarasota County. And the fact that we’re about a half-mile off the interstate really makes all of our services accessible.”

Construction is expected to begin in January. Coastal officials declined to put a total projected value of the project because they were still bidding out work through mid-December. The building will be designed in the style of Sarasota modern architecture — open-plan structures and large panels of glass that fit with the surrounding area, according to the East County Observer story. Albany, N.Y-based BBL Construction Services will oversee construction.

Plans for the facility include clinical services, an ambulatory surgery center, physical therapy department, administrative offices and diagnostic imaging services such as X-ray and MRI. Coastal Orthopedics plans to move into the building in spring 2022. There will also be a six-room surgery center to help address increasing demand for outpatient surgery, particularly joint replacement and spine surgeries.

Coastal Orthopedics, founded in 1973 and now with nearly 300 employees, has four other Manatee County locations. Some 150 to 200 employees will be based out of the new facility. “It’s going to be our largest clinic location,” Valadie says. “And obviously, it’s going to be a large surgery center. We’d like to have our administrative offices under the same roof so that there’s more seamless operations.”


Source:  Business Observer

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Cushman & Wakefield has arranged the sale of The Centre at Stirling & Palm, two boutique medical and professional office buildings located in Cooper City.

The final sale price was $15.25 million.

Scott O’Donnell, Greg Miller, Mike Ciadella, Dominic Montazemi and Miguel Alcivar of Cushman & Wakefield represented the seller, The Centre at Stirling & Palm, Inc., in the transaction. ATCG LLC acquired the property and was represented by Cushman and Wakefield’s Jason Hochman in sourcing a $9.35 million acquisition loan.

“At 93.5% occupancy, investors had the opportunity to acquire a secure in-place and on-going income stream that continues to outperform the broader submarket,” O’Donnell said. “Recent leasing through the pandemic saw rents increase by 4% on average while maintaining the exceptional occupancy levels the property is accustomed to enjoying.”

Located at 9900 and 10000 Stirling Road, the buildings total 64,436 square feet. Proximity to both to Interstate 75, Interstate 595 and Florida’s Turnpike offers excellent access to all of South Florida and a full range of nearby amenities.

The property consistently receives strong demand from medical tenants due to its proximity to four of Memorial Healthcare System’s top performing regional hospitals and Nova Southeastern University’s Sanford L. Ziff Medical Center, resulting in over 2,300 hospital beds within a 10-mile radius.