Orlando’s 9 Biggest Health Care Construction Projects

doctor with stethoscope

Metro Orlando has nine proposed major health care projects in the pipeline for 2023 and beyond.

Those are in addition to big projects nearing completion this year, such as the Orlando Health Jewett Orthopedic Institute complex at the system’s main campus.

The nonprofit Orlando Health — with $8.1 billion in 2022 assets and $4.6 billion in 2021 revenue — also has a 150-bed hospital under construction in Lake Mary among other projects, Joe Williams, Orlando Health’s senior vice president of strategic planning, told Orlando Business Journal.

The 3,238-bed Orlando Health system owns nine Central Florida hospitals as well as urgent care centers, cancer centers, freestanding ERs and more. It is one of the region’s largest employers, with more than 23,000 workers.

Other health systems also have local expansion ongoing with even more projects in the pipeline. For example, HCA Florida Poinciana Hospital is going through a $9.9 million expansion to add emergency and inpatient beds as well as a new freestanding ER in the Lee Vista area. It is owned by Nashville, Tennessee-based HCA Healthcare Inc.

HCA has more than 50 hospitals in Florida, including five in Central Florida: the 404-bed HCA Florida Osceola Hospital in Kissimmee, the 221-bed HCA Florida Lake Monroe Hospital in Sanford, the 76-bed HCA Florida Poinciana Hospital, the 64-bed Oviedo Medical Center and the 64-bed UCF Lake Nona Hospital in partnership with UCF.

Meanwhile, Altamonte Springs-based AdventHealth has multiple projects under construction, including a new emergency room at Disney’s Flamingo Crossings Town Center set to open later this year.

Founded in 1908, AdventHealth’s Central Florida division includes more than 20 hospitals and ERs in the seven-county area in and around Orlando. Its hospitals and other outpatient services see more than 5.7 million patient visits annually. Nationally, the organization has more than $12.5 billion in annual operating revenue.

Click here to see the largest health care projects in the area that have yet to start construction, and find out who’s behind them

 

Source:  SFBJ

 

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Sunrise Medical Office Building Takes Discount On $38M Sale

medical office building at 9800 W. Commercial Blvd., Sunrise 760x320

A Sunrise medical office building leased to the VA sold for $38.15 million, a big discount from its last trade.

HTA-VA Sunrise MOB LLC, part of Nashville-based Healthcare Realty Trust, sold the 110,714-square-foot medical office complex at 9800 W. Commercial Blvd. to Sunrise FL I FGF LLC, managed by Kathleen Herrin of Chicago-based Boyd Watterson Asset Management.

The price worked out to $345 per square foot. It last sold for $49.73 million in 2017.

 

Source:  SFBJ

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A Five-Story Building With Medical And Restaurant Space Planned For Boca Raton

1751 n military trail

Designed to help add new office space in Boca Raton, developers are planning a new five-story building with 90,000 square feet of medical space and 21,000 square feet of general office space. According to city planning documents, 50% of the property is expected to be leased by Unified Physician Management, which focuses on women-focused medical issues such as OBGYN, fertility and breast cancer.

Bonnie Miskel, an attorney representing the developer, said during a recent public meeting that adding Class ‘A’ office will fill a key need for the city. “We really don’t have this type of product in the city at this point and it’s at a great location.”

Additionally, the project will also include 7,800 space of restaurant space and a six-story parking garage. The developer, Boca Midtown Place, acquired the 8.51-acre property for $11 million in August 2021, according to Palm Beach County property appraiser records.

Less than half a mile from the Glades Road exit of I-95 at 1751 N. Military Trail, the building will be adjacent to the Bowlero bowling alley and near a commercial plaza that includes a Rocco’s Tacos & Tequila Bar, Morton’s The Steakhouse and a Starbucks. The popular Town Center at Boca Raton mall is also less than a half-mile west of the new development.

 

Source:  SunSentinel

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REIT Expanding In Florida Buys Medical Building In Polk County

250 Ave. K SW in Winter Haven 760x320

A Charlotte, North Carolina, REIT specializing in the health care industry has picked up a 27,910-square-foot office property in Polk County.

Flagship Health Care Properties’ trust paid $6.75 million for the building at 250 Ave. K SW in Winter Haven.

The building’s tenants include the Center for Retina and Macular Disease, an ophthalmic group, and Davita, a kidney care provider.

In a statement announcing the deal, Gerald Quattlebaum, Flagship’s executive vice president of acquisitions, says the population growth and a “booming” health care industry drew the company to the property — and the region.

In all, Flagship, an outpatient health care real estate firm, owns nine properties throughout the state. It has a big presence around Orlando and is expanding west.

“With an ever-growing footprint, we are very bullish on this part of the state,” Quattlebaum says in the statement.

Flagship bought the property through its REIT, Flagship Healthcare Trust, and will provide property and asset management services.

The company oversees more than 240 health care properties totaling more than 5.3 million square feet. The REIT holds interest in 93 health care properties valued at about $906 million.

 

Source:  Business Observer

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South Florida Nursing Homes Trade For $36 Million

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A pair of nursing homes in Broward County were recently acquired for about $36 million by a New Jersey operator of nursing and rehabilitation centers

Limited liabilities companies connected to Englewood Cliffs, NJ-based CareRite Centers acquired Manor Pines Convalescent Center at 1701 N.E. 26th St. in Wilton Manors and Manor Oaks at 2121 E. Commercial Blvd. in Fort Lauderdale on Dec. 29.

Both nursing facilities were operated by the Marrinson Group, Inc. a Wilton Manors-based nursing home company.

In a release, CareRite Center stated that it would rebrand Manor Pines as The Pearl at Fort Lauderdale Rehabilitation and Nursing Center. Manor Oaks would be renamed The Savoy at Fort Lauderdale Rehabilitation and Nursing Center.

 

Source:  SFBJ

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