Tampa’s WestShore Plaza Mall Could Be Demolished For New Development Including Medical Offices

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The WestShore Plaza mall in Tampa could soon be demolished to make way for a sprawling mixed-use development with shopping, apartments, offices, medical facilities and more.

The mall’s owner, Ohio-based Washington Prime Group (better known as WPG), filed a rezoning request in August to expand the size and scope of an existing redevelopment plan on the site of the mall. Tampa City Council gave the first approval for that request at a meeting Thursday, paving the path forward for the project.

The full project breakdown includes:

  • 901,831 square feet of retail
  • 380,000 square feet of professional office space
  • 120,000 square feet of medical office space
  • 1,765 multifamily residential units
  • A 256,000-square-foot hotel or motel
  • 133,119 square feet of restaurant space
  • A 77,357-square-foot recreational facility
  • A Hillsborough Area Regional Transit Authority (HART) transfer station

The new plan does not increase the density of the project, but it allows WPG to build across the entire 53-acre site and demolish the existing mall. It also adds the option for a medical district with nursing facilities, a hospital and more.

Source:  Tampa Bay Times

 

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Aventura MOB Under Construction Hit With Foreclosure Suit

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A 142K SF medical office building under construction in Aventura is the subject of a foreclosure lawsuit while its developer looks to sell it for $90M.

An affiliate of Rok Lending filed suit against Gomez Development Group alleging that the Miami-based developer has defaulted on a $15M loan for the property at 21291 NE 28th Ave., where Gomez is building a speculative medical office building.

The suit from Aventura-based Rok alleges that Gomez Development entered into the mortgage in May but stopped making monthly payments on the debt in July. Rok is seeking a $16M judgment to recover the loan’s principal, interest and fees, and asked the court to also allow the firm to recover attorneys’ fees.

Rok is suing Aventura Eco-Offices Property Owner LLC, an affiliate of Gomez Development, and the firm’s managing partner, Marlon Gomez, who personally guaranteed the debt, the lender claims. The suit was compiled by property intelligence platform Vizzda.

Gomez is negotiating with a new lender to refinance the debt and maintain control of the property, he wrote in an email.

“While our project faced hurdles securing construction financing these last few months due to challenges many lenders are facing with their current portfolios, we’ve found a new private lender to work on refinancing our current loan and enabling us to utilize CPace as an alternative financing to fully capitalize and complete our project,” Gomez told Bisnow. 

Gomez paid $19M for the 1.6-acre site in October 2021, property records indicate. His firm secured a $45M loan from Los Angeles-based Parkview Financial in 2021 to begin construction on the planned seven-story medical office with a four-level parking garage adjacent to Aventura Hospital and Medical Center.

The project, designed by Miami-based Caymares Martin, was originally slated to deliver by the end of 2022 but remains under construction. The Parkview loan was fully paid off last year with a final closing balance of around $10M, Karina Parada, the firm’s marketing director, told Bisnow.

Gomez said the Rok funding helped pay down the Parkview loan and also covered costs on pre-development and site utilities, infrastructure and foundation work, which is now completed. Vertical construction has commenced and the firm is aiming to deliver the building before the end of the year, Gomez said.

The unfinished project is being listed for sale by Fortune International Realty broker Cesar Sanchez. The building will seek LEED Gold Certification and will include around 100K SF of rentable medical office space and a 5K SF ground-floor retail space, according to a marketing brochure for the property.

“We are confident in our project’s value, with our land’s value doubling that of our current loan and we are communicating openly with our current lender regardless of any claims being made,” Gomez said. 

 

Source:  Bisnow

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Broward Health Buys Coral Springs Office Building

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Broward Health purchased a Coral Springs office building for $11 million as the public health system continues an active year in real estate acquisitions.

Eden Sample LLC, managed by Gideon Harari in Miami, sold the 40,926-square-foot office at 9600 W. Sample Road to Broward Health, also known as the North Broward Hospital District. The price equated to $269 per square foot.

The property last traded for $5.8 million in 2018.

The five-story building was constructed on the 1.34-acre site in 1974. It’s located just north of Broward Health Coral Springs.

Broward Health spokesperson Nina Levine said it would use the building for medical office space. Broward Health already has its pediatric diabetes center in the building, and there are third-party medical tenants there as well.

 

Source:  SFBJ

 

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HCA Florida Palms West Hospital To Build $80M Patient Tower In Loxahatchee

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HCA Florida Palms West Hospital in Loxahatchee, part of Nashville, Tennessee-based HCA Healthcare is planning an $80 million patient tower on its campus in Loxahatchee.

The new tower will include a new registration and admitting area, 36-bed postsurgical unit, classrooms, gift shop, coffee shop, an expanded food service area and cafeteria, enhanced materials management area, and additional parking lot.

The project is expected to break ground this fall and be completed in 2027.

 

Source: healthcare design

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Ken Griffin Donates $50M To Complete UM Cancer In Downtown Miami

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Ken Griffin, founder and CEO of hedge fund Citadel, has donated $50 million to the University of Miami to complete construction for a cancer research building on the school’s medical campus in Downtown Miami.

In 2022, the University of Miami Miller School of Medicine broke ground on a 244,000-square-foot facility at 1425 NW 10th Avenue, just north of Interstate 395. The 12-story building, which is scheduled to be completed in 2025, will double the school’s cancer research department.

The gift made to UM’s Sylvester Comprehensive Cancer Center includes naming rights to the HOK-designed facility, which will now be known as the Kenneth C. Griffin Cancer Research Building.

Griffin, who’s worth an estimated $39 billion, relocated sister companies, hedge fund Citadel and market maker Citadel Securities, to Miami from Chicago two years ago.

The gift comes less than two weeks after billionaire widow Julia Kochdonated $75 million to build a new NYU Langone Health medical complex in Downtown West Palm Beach. The eight-story facility, to be called Julia Koch Family Ambulatory Care Center, will feature 77,000 square feet of clinical space.

 

Source: Commercial Observer

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