With over 625 life science companies and nearly 6,000 health care businesses, the sector employs more than 100,000 professionals.
It is the fourth Baptist Health facility in the area, following the 2021 opening of Baptist Health Hospital Doral.
This investment includes building a new hospital at a yet-to-be-revealed location, opening free-standing emergency departments in the northern, central, and southern parts of the county, and establishing new physician offices.
Royal Senior Care and MG3 developed the 220-bed facility in 2017.
Palm Beach County’s medical office market remains a prime choice for investors, driven by strong fundamentals, high occupancy, and rising rents. Medical office properties continue outperforming other asset classes, with a 94% occupancy rate and rents surging 23.5% over the past five years.