Wellington Medical Office Trades For $18 Million

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Wellington Regional Medical Center’s medical office, Wellington Medical Arts Pavilion III, sold for $18.25 million.

The ground lease for the 49,832-square-foot medical office complex at 1397 Medical Park Blvd. was sold by HTA – Wellington LLC, a division of Nashville-based Healthcare Realty Trust.

1397 Medical Park Blvd Owner LLC, a joint venture between Apollo Equity Investors and Rendina Healthcare Real Estate, located in Jupiter, was the purchaser. The buyer obtained a $12 million mortgage from Seacoast National Bank. The purchase price equates to $366 per square foot.

The building last traded for $12.82 million in 2010.

 

Source:  SFBJ

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UF Health Continues Geographic Expansion With Acquisition Of Flagler Health+

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UF Health ushered in a big change to Northeast Florida health care when it completed its acquisition of Flagler Health+ in early September.

Flagler Health+ operated Flagler Hospital, a 335-bed facility in St. Augustine, as well as dozens of other smaller offices in or around Northeast Florida.

Since the acquisition, Flagler Hospital is now known as UF Health Flagler Hospital, and the overall system is called UF Health St. Johns.

UF Health St. Johns includes more than 1,900 employees, UF Health Flagler Hospital and nearly 30 care sites. It focuses on health care in Flagler, St. Johns, Putnam, Clay and Duval counties. Flagler Health+ has been in the community for 130 years.

In a video about the merger, David R. Nelson, senior vice president for health affairs at UF and UF Health president, says that UF Health offers additional financial and human resources, intellectual capital and innovation to the former Flagler health care system. Residents of the area and providers also will have expanded access to new clinical trials, and providers will have access to additional training programs, he adds.

Another addition for UF Health St. Johns will be a new technology strategy that will include integration of an electronic health record system across the health network and new clinical equipment, Nelson says.

When choosing a potential acquisition partner, leaders from Flagler Health+ aimed to find an organization that focused on quality enhancement, community-focused service lines such as behavioral health and women’s health, and high-quality health care services to underserved populations, among other factors.

Acquiring Flagler Health+ is part of UF Health’s expansion, which now includes 11 hospitals. Other recent acquisitions include UF Health The Villages (formerly The Villages Regional Hospital) and UF Health Leesburg Hospital (formerly Leesburg Regional Medical Center) in 2020.

 

Source:  Florida Trend

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Bayfront Health Breaks Ground On Major Campus Expansion In Downtown St. Pete’s Innovation District

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Bayfront Health St. Petersburg has begun construction on a major expansion of its downtown campus that will further cement the hospital as a prominent anchor of the Innovation District.

When Orlando Health purchased Bayfront Hospital St. Petersburg in 2020, it pledged to revive the 480-bed hospital after years of financial turmoil under its former owner. Orlando Health’s promise included not only strengthening the hospital’s charity care programs but to also restore Bayfront as a premier healthcare facility in St. Petersburg in both patient care and facilities provided.

Bayfront Health is the only state-accredited Level II Adult Trauma Center in Pinellas County and is nationally accredited as a Comprehensive Stroke Center. It is also the oldest hospital in St. Petersburg and began in 1910 as Good Samaritan Hospital.

In late 2022, Orlando Health announced the first major facilities expansion of Bayfront since its takeover with the announcement of Institute Square, a new medical complex planned immediately north the hospital.

“Bayfront Health – Institute Square ushers in a new era for our hospital and emphasizes Orlando Health’s commitment to providing advanced healthcare throughout our community,” said John Moore, Senior Vice President for Orlando Health and President of Bayfront Health.

“Institute Square will bring world-class care to the Tampa Bay region and beyond through partnerships with the Florida Cancer Specialists & Research Institute, Florida Orthopaedic Institute, All Florida Orthopaedic Associates, and Women’s Care.”

Institute Square will be located immediately north of the hospital on the superblock bound by 5th Avenue South to the north, 6th Avenue South to the south, 7th Street South to the east, and 8th Street South to the west.

The medical complex will consist of three buildings: the Bayfront Health Medical Pavilion, Bayfront Health Women’s Pavilion, and a multi-level parking deck that will include an imaging center.

The Bayfront Health Medical Pavilion will be a four-story 120,000 square foot medical office building that will offer world-class care through partnerships with the Florida Cancer Specialists and Research Institute, and All Florida Orthopaedic Associates.

Cancer care at the new facility will be provided by multiple oncology specialists and physicians offering care in urogynecology, colorectal, thoracic, lung, head and neck, breast, and skin cancer treatments.

Just west of the Bayfront Health Medical Pavilion will be the Bayfront Health Women’s Pavilion, a three-story, 60,000 square foot building that will offer comprehensive women’s care. The facility will include care in obstetrics, gynecology, and women’s health through all phases of life, from pre-teen to post-menopausal years. Bayfront is partnering with Women’s Care, a Tampa-based specialty women’s health physician group, on the facility.

Institute Square will also include a 9,500 square foot imaging center that will be located on the ground floor of a multi-level parking deck. The imaging center will include outpatient imaging and diagnostic laboratory services.

Each building at Institute Square will include separate patient drop off areas and covered walkways.

Construction on Institute Square is underway and existing buildings on the site were previously demolished. Current construction activities include relocating utilities and doing deep foundation work by placing more than 200 stone columns to support the new buildings. A ground crane is onsite to assist in the foundation work.

“We are excited for the St. Petersburg community to follow the construction of Institute Square with us on Bayfront Health’s main downtown campus,” said Matt Taylor, Senior Vice President of Asset Strategy for Orlando Health.

“Orlando Health is pleased to expand its presence and further invest in serving the community’s health and wellness needs through the new Women’s Pavilion, Medical Pavilion, Imaging Center, and parking garage now underway at Institute Square,” added Taylor.

Turner Construction Company is the general contractor for Institute Square.

Bayfront Health St. Petersburg expects to open Institute Square in 2025.

 

Source:  St. Pete Rising

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Broward MOB Triples In Value

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A 52,748-square-foot medical office facility at 9750 N.W. 33rd Street was sold by the Central Medical Plaza Co-Ownership Trust, with Gary V. Caplan of Boca Raton serving as trustee, to HPIV Fort Lauderdale LLC, under the management of Milwaukee-based Hammes Partners.

The medical office building, located just north of Broward Health Coral Springs, sold for $15.38 million, equating to $291 per square foot.

The 1987-built, two-story building, which is situated on a 3.7-acre site, last traded for $4.79 million in 1991.

 

Source:  SFBJ

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New Hospital Coming To Minneola: AdventHealth Breaks Ground

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AdventHealth broke ground last week on AdventHealth Minneola, an 80-bed hospital that will bring inpatient care to the growing population of south Lake County. Leaders and community members came together to mark the start of construction.

The four-story hospital will be located on Hancock Road at Florida’s Turnpike, off the Minneola interchange.

The facility will be approximately 204,000 square feet and includes an emergency department; full-service imaging; five operating suites; endoscopy services; outpatient laboratory; heart catheterization labs; 40 critical care patient rooms and 40 general medical or surgical rooms. These new services will meet a significant need in south Lake County which has seen a shortage of physicians in nearly every specialty.

As part of AdventHealth’s $271 million investment in the community’s health care infrastructure, AdventHealth Minneola will serve as a beacon of hope and healing. A recent study by Sg2, a health care consulting agency, estimates the population of Minneola will increase by 13% in the next five years, making the provision of high-quality acute care services critical.

“We are committed to providing convenient, whole-person care close to home, wherever consumers live in Central Florida,” said Kari Vargas, CEO of AdventHealth’s Northwest Market. “With a fast-growing population and a community need for additional access to primary and specialty care, we look forward to offering the residents of South Lake a complete range of exceptional, compassionate care.”

The Agency for Healthcare Administration (ACHA) reports that over 45% of residents of this community leave the county to receive inpatient services.

“In many cases, we know that the best medical care is care that is close to home,” said Dr. Nicholas McAlister, director of emergency medicine at AdventHealth Clermont and Winter Garden. “For many residents of this community, that care hasn’t been available, which leads them to leave the area if they need hospital services. This facility will allow more of those people to receive world-class care closer to home.”

The Minneola campus joins AdventHealth’s growing network of inpatient and outpatient services in the South Lake and West Orange communities. The hospital will be located in a new and up-and-coming development, as well as within walking distance of shopping, entertainment, housing, and green space.

“It is an honor for me and my fellow City Council members to welcome AdventHealth to Minneola,” said Mayor Pat Kelley. “The presence of AdventHealth in our community will further accelerate the development of our economic development zone. AdventHealth Minneola hospital will not only offer residents a health care provider to proud of, but also bring good high-paying health care jobs to our community.”

Upon completion, the hospital will bring 500 jobs to the community.

The architect is ESa and the general contractor is Brasfield & Gorrie. AdventHealth Minneola is scheduled to open in late 2025.

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