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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Orlando Health Reimagines South Seminole Hospital Campus As Healthcare Hub For Longwood

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Orlando Health unveiled plans to reimagine its current Seminole County campus as a healthcare hub in downtown Longwood, anchored by a new free-standing emergency department (FSED).

Plans call for the FSED to be built and ready to serve the community in the summer of 2024, concurrent with the closure of Orlando Health South Seminole Hospital and the opening of the new Orlando Health Lake Mary Hospital.

Leaders at Orlando Health and officials with the City of Longwood are working together to create a destination for residents that complements the redesigned Reiter Park. The current campus is envisioned to include a 15-acre town center for the City of Longwood comprising a high-quality mix of multi-family residential, retail and office uses.

“We’re very proud of our nearly 40-year history here in Longwood as a hospital caring for so many people in our community and as one of the largest employers in the area,” says Shawn Molsberger, senior vice president of Orlando Health’s northeast region and president of Orlando Health South Seminole Hospital. “Working closely with the city, we’re making an investment into our community that allows us to continue providing a high level of care while bringing in new amenities that will further enhance the quality of life for Longwood residents.”

Most of the Longwood campus will be redeveloped, leaving two existing medical office buildings to continue offering important services such as cardiology, pulmonology, rehabilitation, general surgery, infectious disease, and urology. Plans are also underway to relocate behavioral health services at South Seminole Hospital to a new Central Florida location, where Orlando Health will develop a new dedicated facility to allow for greater access to clinical mental health services. An announcement on the new behavioral health project is expected soon. Construction on the new Longwood FSED is expected to begin in early 2023.

 

Source:  Orlando Health

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Broward County Assisted Living Facility Sells For $19 Million

ALF at 6700 W. Commercial Blvd. in Lauderhill

The Lenox on the Lake assisted living facility in Lauderhill sold to a Miami company for $19.19 million.

GREA Properties Lauderhill LLC, managed by Matan Ben-Aviv of Hollywood-based Ganot Capital, sold the 127-unit assisted living facility at 6700 W. Commercial Blvd. It was purchased by 6700 W. Commercial LLC, an affiliate of Miami-based RSR Senior Residences.

VNB New York provided a $19.25 million mortgage to the buyer, with the loan covering both the real estate and the costs of operating the business.

The price equated to $151,102 a unit.

 

Source:  SFBJ

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Hialeah Assisted Living Facility Could Be Redeveloped, Expanded

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An assisted living facility in Hialeah could be replaced with a larger, more modern assisted living facility.

The City Council on Sept. 13 will consider a rezoning application for 0.77 acres covering 141 W. 27th St., plus 130-160 W. 28th St. The five small apartment buildings there are owned by 140 LLC, which is owned by Abraham Shaulson, the head of Miami-based assisted living facility operator Millennium Management.

The 52,912-square-foot assisted living facility at 195 W. 27th St. is directly west of the properties with the pending rezoning and is also owned by an affiliate of Millennium Management. It was built in 1950.

Under the application, the neighboring five lots would be rezoned from “medium density residential” to “major institutions.” That would mean Millenium Management would control 2.4 acres zoned for assisted living.

 

Source:  SFBJ

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