$61M Medical Facility Planned In Homestead

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A developer has proposed an outpatient medical facility in Homestead with an estimated development cost of $60.6 million.

The city’s Development Review Committee on Oct. 18 will consider plans for Homestead Medical Center. It concerns the vacant site of 4.6 acres on the west side of Southwest 137th Avenue, just south of Northeast 16th Street. It’s on the west side of Homestead Air Reserve Base.

Leg I Parthica LLC, managed by Joel Campo in Miami, has the property under contract from Doral-based BDG Grove Plaza LLC, managed by Daniel Alonso.

Homestead Medical Center would total 140,000 square feet in five stories. It would include a 10,310-square-foot outpatient surgical center, 5,110 square feet of adult day care, a 10,347-square-foot imaging/diagnostic center and the balance of the space medical office. There would be 617 parking spaces, with 415 of them in a 5-story parking garage.

 

Source:  SFBJ

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Palm Medical Announces The Opening Of New Senior Primary Care Center In Aventura

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Palm Medical Centers, an MBF Healthcare Partners II, L.P. (“MBF”) portfolio company, and one of the largest independent primary care medical groups in Florida, announced the opening of its 24th senior primary care clinic in Aventura.

The new center, located at 16241 Biscayne Blvd., opened for new patients September 8th and will hold its official grand opening on October 15th. Bringing a proven quality-focused clinical support program to Aventura, Palm Medical Centers looks to grow its membership base of more than 34,000 patients in value-based managed care programs and build on its footprint in Miami-Dade County.

“With our enhanced operational and clinical platform, we can continue to efficiently scale our number of centers while maintaining a concierge level of care for our patients,” said Patricio Casillas, COO of Palm Medical Centers. “Our care model has translated well across the different regions we serve. With the addition of the Aventura clinic, along with two others slated to open during Q4 2022, we will operate across 7 counties in Florida, setting us up to continue our strategic expansion in 2023.”

 

Source:  Valdosta Daily Times

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Florida Hospital Association Sells Downtown Orlando Properties: Zoning Could Lend Itself To Residential, Medical Or Combination Use

The Florida Hospital Association's Orlando office at 307 Park Lake Circle

The Florida Hospital Association has sold more than two downtown acres to an Orlando investment company.

Elevation Financial Group bought the eight parcels comprised of 2.12 acres, which includes the Tallahassee-based association’s former Orlando offices adjacent to Park Lake. The FHA had closed that office last November as it centralized all operations in Tallahassee.

The land sold for $4 million on Sept. 12 to an entity connected to Elevation, per Orange County documents. Cushman & Wakefield’s Glen Jaffee and Jeff Sweeney represented the association in the sale, and a representative for Elevation was not immediately known.

In total, the property has more than 20,000 square feet across multiple buildings, according to the county property appraiser. Elevation would renovate the existing main 10,000-square-foot office building and demolish other buildings on the property to make way for new development, according to the company in a release.

Elevation Commercial Development, a subsidiary of Elevation Financial Group, will oversee the construction and demolition.

“We see an incredible opportunity to take an underutilized and distressed property and bring it back to life through strategic demolition, renovation and ground-up construction,” Matthew Downs, president of Elevation Commercial Development, said in a prepared statement. “What now is a mashup of disconnected buildings will be transformed into a reimagined property featuring multiple new office options for Orlando businesses.”

Ben Friedman, director of public affairs for Elevation Financial Group, told Orlando Business Journal the property likely will include office development, the scale of which is to be determined.

Meanwhile, Elevation Financial Group is preparing to build a new three-story, 14,000-square-foot corporate headquarters on New York Avenue in Winter Park. Elevation Commercial Development is also working on that office.

The group of properties is relatively unique to the downtown area because of the location and the size of the portfolio, Jeré Matheny, senior associate at Orlando-based real estate firm First Capital Property Group Inc. who is not involved with the deal, previously told OBJ.

The property and the zoning could lend itself to residential, medical office or a combination of uses in the long term.

Matheny has seen demand continue to recover for office space in downtown and other submarkets, partly thanks to continued population growth. “We don’t see any slowing down.”

Meanwhile, the Central Business District has an office vacancy rate of 14.2% for second-quarter 2022, according to Cushman & Wakefield. That’s slightly up from 13.5% during the prior quarter.

The asking price for all classes of office downtown is $28.97 per square foot for the second quarter. That is slightly down from $29.06 per square foot in the first quarter.

 

Source:  OBJ

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Medical Office Plaza In Boynton Beach Trades

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JLL Capital Markets closed the sale of Woolbright Medical Plaza, two institutional-grade medical office buildings totaling 33,154 square feet in Boynton Beach.

The buildings last sold in August 2018 for $5,525,000.

JLL represented the seller, TopMed Realty, in the sale to AW Property Company.

Located at 1700 and 1800 Woolbright Road, Woolbright Medical Plaza is positioned less than a mile from the 401-bed Baptist Heath Bethesda Hospital East, part of the largest health system in South Florida. Furthermore, the property is near Boulevard Rehabilitation Center, HCA Florida JFK Hospital, Delray Medical Center and Bethesda West Hospital.

Woolbright Medical Plaza is 93% leased to a variety of nationally and locally recognized physician groups providing radiology/imaging, ENT, primary care, dentistry and physical therapy services. Anchor tenants include Akumin Corp., ENT Associates of South Florida and Kindred Healthcare. TopMed successfully converted and rebranded the office complex to a medical office plaza and increased the occupancy from 63% to 93%.

The abundance of demand for healthcare services in Palm Beach County is driven by surging population growth and an outsized concentration of senior citizen residents. Woolbright Medical Plaza further benefits from being adjacent to the large active adult 55+ community known as Leisureville, which features 1,800 single family homes and 500 apartments.

The JLL Healthcare Capital Markets team representing the seller was led by Director Matt DiCesare, Senior Managing Director Evan Kovac and Director Anthony Sardo with support from Chad Prescher and Josiah Batcheller. Managing Director Ike Ojala of JLL’s Miami office provided local expertise.

 

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Developers Plan ‘City Within A City’ At Southland Mall, Including Medical Office Space

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Real estate developers are planning to build a “city within a city” at the Southland Mall site in Cutler Bay.

Developer Electra America, its U.S. affiliate American Landmark, and BH Group this week announced preliminary plans to redevelop the 80-acre site 20 miles south of Miami.

The site was acquired in May for more than $100 million.

Plans for the billion-dollar project, to be called Southplace City Center, include revamping the mall and adding nearly 4,400 apartments, a grocery store, a 150-room hotel, medical office space, an amphitheater and walk/bike paths at the site.

The proposal has been submitted to the town. The developers said their plans meet code and that they won’t seek any special approvals.

The developers plan to break ground next year. Apartments could be ready in early 2025, with rents starting at $2,500.

 

Source:  AXIOS Miami

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