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The rollback of the Certificate of Need (CON) law creates growth opportunities for health systems that could lead to big capital spending on construction and medical equipment, while boosting access to health care in neighborhoods without enough providers.
The facility will be built on about four acres on John Young Parkway near the intersection of Osceola Park Drive.
The campus will feature a five-story, 365,000-square-foot hospital with 110 private rooms and a two-story, 60,000-square-foot medical office building.
The 38,537-square-foot portfolio was 88.2% leased with a weighted average lease term of over 5.5 years.
This purchase represents the ninth medical office property purchased by ShareMD in the past eighteen months, and increases ShareMD’s total portfolio to fifteen properties and approximately one million square feet of owned healthcare real estate assets in Florida and California.