UF Health To Open New Neighborhood Hospital In Ocala

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Construction is underway for University of Florida Health’s new neighborhood hospital in Ocala, which will be located at NW Blichton Road and NW 35th Avenue Road, just east of Interstate 75.

According to UF Health, the 150,000-square-foot hospital will include 10 emergency department rooms, 10 inpatient rooms, a medical imaging center, and four surgical operating rooms, among other features.

The three-story medical facility will provide an outpatient center for lab draws, an anesthesia pre-operative center, physician office space, and room to accommodate future expansion.

UF Health stated that the upcoming hospital’s emergency facilities will include seven emergency examination rooms, along with one exam room each for triage and trauma. In addition to the operating rooms, the surgery center will feature a dozen pre-operative and post-operative beds.

Inside the imaging center, there will be two general x-ray rooms, two computerized tomography (CT) rooms, an ultrasound room, and a magnetic resonance imaging (MRI) suite.

“Many families in the Ocala area have entrusted UF Health with the care of their family and loved ones,” stated David R. Nelson, M.D., UF Health president. “Now, they will have access to quality emergency care, surgical services, and an inpatient hospital even closer to home.”

Construction of the neighborhood hospital is expected to be completed in the spring of 2024.

 

Source:  Ocala-News

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Developer Proposing $107M Mixed-Use Project, Including A Medical Tower, For Former FAU Site In Deerfield Beach

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Commissioners last week unanimously accepted a development proposal for the Florida Atlantic University (FAU) acreage that will, if approved by voters in March, pay the city $6.5 million, contribute another $7.5 million in community improvements and construct a multi use building housing a medical complex, hotel, workforce housing, event and entertainment space, and commercial tenants.

The four acres at Southwest 10 Street and Southwest 11 Way, at the entrance to I-95, have been vacant for decades and until last year were under lease to the Florida Atlantic Research and Development Park.

In refusing to extend the partnership with FAU, city officials opted to hire a marketing firm to pitch the property to developers. Colliers International was given the task and produced six qualified candidates. The city’s selection committee two weeks ago ranked MBA Development Partners, based on Boca Raton, as the number one bidder.

Said Ken Krasnow, representing Colliers, “MBA is the clear favorite. This is a true live, work, play development. Their intent is to create a statement for Deerfield Beach.”

He presented a four-year development schedule that would have the building leasing the 120 apartment units in 2027. MBA already has created a program to educate the community about the project prior to the 2023 election and the ballot language has been prepared.

Also planned for the building, a medical tower, 105-room hotel, 20,000 square feet of restaurant/entertainment space, and parking garage. The project is being priced out now at $178 million.

The medical tenants are known to the developer, Krasnow said, but those identities are currently protected by a confidentiality agreement. What is known, he said, is that the Marriott brand will operate the hotel and a well-known real estate company will manage the living units.

“Every space is spoken for,” a representative of the developer said.

To City Commissioner Todd Drosky’s observation that the city had hoped to attract a national developer, Krasnow said, “You have national brands with a local presence.” Drosky also pushed Krasnow to reveal the proposed medical tenant saying, “We have only one shot at this . . . We want a dynamo that will energize the area.”

Vice Mayor Ben Preston said in their presentation to staff that “MBA said all the right things . . . It’s a homerun.”

The Boca Raton-based developer is a privately-held real estate company who has partnered with others to develop $4 billion in real estate projects.

 

Source:  New Pelican

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Medical Office Breaks Ground In Hialeah With $13M Construction Loan

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Developers broke ground on a medical office building in Hialeah after obtaining a $13 million construction loan.

Ocean Bank provided the mortgage to Miami Gardens-based 5 Aces Capital Hialeah Land LLC, managed by Alejandro Garcia, and Cam Group at Hialeah LLC, managed by Pedro Alberto Camejo. The loan matures in 18 months, with a potential 10-year extension It covers the 1.85-acre site at 4300 W. 12th Ave., about three blocks west of Goodlet Park.

Miami-based Hidalgo Construction Group recently filed notice with Miami-Dade County that it started construction of the three-story medical office building totaling 48,824 square feet.

The project was recently listed for lease online at $32 a square foot, with availability anticipated in December 2023.

The developer acquired the vacant site for $6.85 million in late 2021.

 

Source:  SFBJ

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Despite Slowdown, Medical Office Remains Strong

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Medical office buildings remain strong investor favorites despite slowing transaction volume, which one expert says may persist for the next few quarters.

“The past several years have been banner years for investors with historically low cap rates and many more buyers in the market than sellers,” says Julie A. Johnson, Executive Vice President, Arizona at Colliers, who will be speaking on a panel of industry experts breaking down healthcare real estate trends at this week’s GlobeSt healthcare conference. But “medical office buildings will continue to be strong with not only the increase of the senior population but also the population increase in many markets, specifically the Sun Belt cities.”

Johnson notes that construction costs have been “a bit of a headwind,” as have labor shortages and increased labor costs for retaining existing providers.

“There has been a physician shortage of varying degrees in markets across the country and with aa lack of new doctors and many retiring doctors there will be an increasing shortage here that various healthcare professionals (physician assistants and nursing professionals) can fill for lower acuity patient care,” she says.

Opportunities nevertheless abound for investors as new medical technology shifts more procedures to outpatient surgery centers, and as the awareness and need for more inpatient and outpatient behavioral health facilities increases. In addition, “population growth in many cities continues to drive the need for more hospital beds, medical office space and other ancillary healthcare real estate,” according to Johnson.

Going forward, Johnson says she’ll be keeping a close eye on hospital systems possibly monetizing their real estate as a result of bonding capacity, higher construction prices and focusing their capital on their core business of patient care.

 

Source:  GlobeSt.

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HCA Florida Breaks Ground On $88M Hospital Expansion To Its Lake City Hospital

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On Nov. 29, Davie-based HCA Florida Healthcare broke ground on an $88 million expansion to its Lake City Hospital, ABC affiliate WCJB reported.

The new two-story tower will increase the number of beds at the hospital from 113 to more than 150, according to the news station. It will feature an additional catheterization lab, pre-op area and PACU recovery area, and will expand access to critical intervention radiology and vascular services.

The tower and an accompanying parking lot will be complete in 24 to 30 months, according to the news station.

 

Source:  Becker’s Hospital Review

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