Why Are New-To-Market Hospital Systems And Medical Groups Increasingly Seeking To Gain A Foothold In Florida?

medical-money-with-stethoscope_SYfA7C6Es_GS 760x320

Florida’s population is continuing to grow, as is the demand for medical services.

And it won’t be long before the state is being targeted by even more non-market health care providers. The key is to create a presence in the markets where these new health care enterprises operate.

Investors remain positive on medical buildings, according to a report by 42Floors, a division of the commercial real estate data company Yardi, based in Santa Barbara, California.

“Investors are viewing medical office as a haven in a disrupted environment,” said Doug Ressler, a business intelligence manager for Yardi.

In addition, the markets that have dominant employers will have a significant impact. And reports suggest that Florida is the most business-friendly state in the country.

 

Source:  OBJ

/by

AdventHealth Sells Pair Of Metro Orlando Nursing Homes For Nearly $37M To New-To-Market Company

730 Courtland St. in Orlando 760x320

AdventHealth has sold at least two skilled nursing facilities it owns in Orange County for nearly $37 million to a new-to-market company.

The Altamonte Springs-based health system sold properties at 730 Courtland St. in Orlando and 305 E. Oak St. in Apopka. Entities that bought the properties appear to be linked to Lakewood, New Jersey-based Imperial Healthcare Group LLC.

  • 730 Courtland St. in Orlando: The 4.9-acre property includes 120 beds and traded hands for $19.25 million. The 52,651-square-foot building was built in 2000, per county records.
  • 305 E. Oak St .in Apopka: The 6.54-acre property includes 120 beds and traded hands for $17.73 million. The 53,510-square-foot building was built in 1992.

 

 

Source:  OBJ

/by

Coral Springs MOB Hits The Market

1505 N. University Drive-night front elevation 760x320

A 22,925-square-foot medical building located at 1505 N. University Drive in Coral Springs, Florida has hit the market.

The 4-story building, situated on approximately one acre of land, presents a fantastic investment opportunity for an owner/user or value-add investor.

The building’s prime location in the heart of the Coral Springs business district offers numerous advantages for medical professionals. Its proximity to hospitals and other medical facilities makes it an ideal choice for practitioners looking to establish or expand their practices. Additionally, the building benefits from high visibility and exposure to over 49,000 vehicles per day on University Drive.

Overall, this well-maintained medical office building presents an excellent opportunity for buyers to acquire a property with significant upside potential in a prime location.

 

/by

Orlando Health Buys Medical Office Building From Walgreens

Walgreens_1200 Kuhl Ave 760x320

Orlando Health has purchased a two-story medical office building from pharmaceutical chain Walgreens for $4.1 million, according to a May 31 report from the Orlando Business Journal.

The building is located at 1200 Kuhl Ave next to Orlando Health’s newly opened $300 million orthopedic institute and ASC. The medical office and surgical facility opened March 27, while the hospital is set to open August 1.

Walgreens, which originally purchased the building for $3.85 million in 2007, will continue to lease the ground floor of the 10,194-square-foot building while Orlando Health will use the rest for office space.

This is the second medical office building Orlando Health has purchased in May, obtaining a nearby 18,616-square-foot building for $7.38 million earlier in the month.

 

Source:  Becker’s ASC Review

/by

Panama City Beach Raises Allowed Height Of Medical Buildings

Tallahassee Memorial Hospita Rendering 760x320

Up until now, Panama City Beach had a 65-foot height restriction for most buildings.

That just not going to be tall enough to accommodate the work that will take place inside of the new Tallahassee Memorial Hospital facility off Highway 79 in West Bay.

Hospitals many times need medical equipment that needs a taller ceiling, explained Panama City Beach Councilman Paul Casto.

The restrictions also make it difficult to post adequate emergency room signage.

“We approved this so they could put signage on the hospital,” Casto said.  “Very important was the emergency facility to have adequate signage so they’re able to put signage on the side of the hospital or for people that are not from here, they’re trying to find their way to the hospital emergency room.”

Council members heard the first reading of the variance almost a month ago.

Thursday they gave the plan their final approval.

“We’re doing it because that way they can build to suit the design of the medical facility,” Panama City Beach Councilman Michael Jarman said. “We’re very happy to be able to finally start seeing some groundbreaking and some wall-raising for the medical campus. And so hopefully within the next few years, we’re going to see the actual hospital going up. And it’s been a long time coming for the city of Panama City Beach and everyone should be really proud that we’re getting it.”

The Tallahassee Memorial facility has been under construction for several months.

The first facility will be an 80,000-square-foot medical office building.

It will house primary care physicians, an urgent care center, an ambulatory surgery center, cardiology, and orthopedic services.

Plans also include a 100-bed hospital with an emergency center and other inpatient services including surgery, cardiology procedures, and imaging.

It will also be a teaching hospital as Tallahassee Memorial has a partnership with the FSU medical school to train doctors and nurses.

 

Source:  MyPanhandle.com

/by