Coral Springs MOB Hits The Market

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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.

 

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Orlando Health Buys Medical Office Building From Walgreens

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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

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Panama City Beach Raises Allowed Height Of Medical Buildings

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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

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Polk Commission Approves Funds Toward New Lakeland Facility For Central Florida Health

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The capital campaign for the first of two new Central Florida Health Care medical facilities got a boost Tuesday as the Polk County Commission approved $799,075 for the nonprofit organization from funds provided by the American Rescue Plan Act.

The Winter Haven-based CFHC is planning a Lakeland Health Center at 1129 Missouri Ave. near North Florida Avenue just west of Bryant Stadium. It’s at the site of its current Lakeland Primary Care facility, and the organization has launched a two-year capital campaign to raise funds for the $7 million project, according to its CEO Ann Claussen.

The planned three-story 25,000-square-foot facility, which could break ground within three months adjacent to the existing building, will eventually bring Lakeland Primary Care, Lakeland Pediatrics and Lakeland Hills Dental under one roof.

The existing Missouri Avenue clinic will stay open until all the other entities are moved in. The new facility is three to four months away from gaining a building permit from the city. Once the new one is built, the old building would be demolished for parking.

Construction is expected to be completed about one year from the groundbreaking.

Health care services will include adult and pediatric medical, dental, optometry, OB-GYN, behavioral health, Diabetes Center of Excellence, teaching kitchen and a drive-thru pharmacy. The organization also plans to expand behavioral-health services at the Lakeland location.

The combined square footage of the three facilities once they occupy the new Lakeland center will still add an additional 7,000 square feet for expanded patient care, said Sherrie Pratt, media and communications specialist at CFHC.

In 2022, the three clinics combined saw 16,680 patients, for a total of 49,921 visits, she said. This year, the facilities anticipate 17,100 patients and 53,200 visits.

The new Lakeland facility would be able to add 4,800 more patients and 15,000 visits once completed.

The second facility, which is also part of the capital campaign, will be in Winter Haven along First Street, also known as “hospital row.” It will be a much larger building because it will hold the CFHC administration offices as well as providing an expansion of patient care, including specialty care. The 120 administrators are currently working at multiple locations around Winter Haven.

The three-story project is estimated to cost between $18 million and $22 million to develop, Claussen said. This is because of the centralizing of administration and the addition of specialty care. Like Lakeland, a pharmacy drive-thru is also planned for Winter Haven.

Signed into law on March 11, 2021, the American Rescue Plan Act provided $350 billion in funding to assist state and local governments with the COVID-19 emergency. The act authorized the county to spend ARP funds to offset negative economic impacts of the pandemic, including assisting small businesses and nonprofits.

Claussen said they had responded to a request for proposals and they received $799,075 to supplement the capital campaign. Still, she wants the Lakeland facility first.

“It’s been a long time coming, and that location sees a lot of patients and it’s very tight in that space they are in right now,” she said.

The capital campaign began six months ago with the hope of securing donations within a two-year timeframe for the two projects and avoiding having to take out a loan for $6 million to pay for the Lakeland building.

Last year, the medical staff at CFHC saw a total of 70,000 patients for 220,000 visits. Patients include uninsured, underinsured and Medicaid and Medicare recipients as well as the region’s insured populations.

 

 

Source:  The Ledger

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Mixed Use Project Planned For Orlando Health’s South Seminole Hospital Site

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The South Seminole Hospital in Longwood will soon close, and Orlando Health will build a new healthcare hub in its place.

The hospital is located at 555 W. State Road 434, where it has been for 40 years. It sits next to Reiter Park, which has been referred to as Longwood’s crown jewel. City leaders think new plans for the property will be a good thing for the area and for business owners.

“We want it to be uniquely Longwood, but we also want to be in the future and modern like every other place,” Elijah Ramsay, owner of Back to Basic Barber Shop in Longwood said.

Ramsay is one of only a few business owners in the quiet, historic downtown Longwood area. He has owned the barber shop for six years, but there’s not a lot of foot traffic.

“You know you have Winter Park, and they have their little downtown area, and Altamonte has their little area, so we’ve been wondering how are we going to get something like that that would attract people to Longwood to build it up,” he said.

Ramsay thinks new plans for the city could be that “something.” Orlando Health announced it will close its South Seminole Hospital and tear it down by next year. A stand-alone emergency department will go in its place. Plans are also in the works for a mixed-use building on the property. It would possibly include restaurants, shops, and residential space. Orlando Health is working with city leaders on the plans.

“I have no doubt in my mind it’s going to be an enormous win for the city of Longwood,” Commissioner Matt Morgan, city of Longwood, said. “It’s going to make this historic district more of a walkable area. You’re going to get more of a downtown feel.”

More plans are also in the works. The city bought land behind the hospital with plans to build a new fire department. Renderings show it will be big enough to also house the police department. City leaders said that will open up space in the old buildings for even more business.

Ramsay hopes that business will only continue to grow.”If it could be something like Sanford where they have a downtown area where people feel like they can be comfortable, walk around, shop, and eat, then that would be great.”

Orlando Health expects construction on the emergency department to start sometime in 2023. The construction is expected to be complete by the summer of 2024.

 

Source:  Fox 35

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