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.
The proposed development will be located on a 5.62-acre plot at 5761 S. Military Trail, just north of Lantana Road.
The institute has transformed a 84,227-square-foot space into a state-of-the-art primary orthopaedic campus, which officially opened on March 31.
Lakeland General Hospital reportedly saw 211,801 ER visits last year, making it the nation’s second-busiest.
The facility, pending state approval, would be constructed on 16.5 acres of land.