Medical Office Building Near Tamarac Hospital Sells For $10M

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The University Medical Arts medical office building in Tamarac sold for $10.05 million.

Tamarac Medical Office LLC and PrivCap Hawks LLC, both managed by Daniel Cohen of Boca Raton-based PrivCap Cos., assigned the land lease for the 44,951-square-foot office building at 7431 N. University Drive to 7431 Medical Offices LLC, managed by Ruvi Silberstein in Los Angeles.

The price equated to $224 a square foot.

Signed in 1997, the land lease is with the neighboring HCA Florida Woodmont Hospital, formerly known as University Hospital & Medical Center.

 

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AdventHealth Plans To Turn Holly Land Site Into Hospital Medical Office

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AdventHealth has submitted plans showing that it intends to build medical offices and a hospital on the former Holy Land Experience site in Orlando, according to a report in GrowthSpotter.

According to a recently submitted application to Orlando’s Municipal Planning Board, the health system won’t be demolishing the existing three-story auditorium nor the existing Holy Land building directly across yet.

Instead, AdventHealth intends to build around the structures at 4655 and 4615 Vineland Road, and embark on a two-phase development plan, called AdventHealth Millenia, that involves building a four-story, 80,000 square foot medical office building (Phase 1) and a five-story, 261,500-square-foot hospital (Phase 2).

Included in plans for the first phase are a helipad, which will require a Conditional Use Permit, and associated surface parking.

The first floor of the medical office building will feature a 20,000-square-foot of Emergency Room.

The second floor will have 20,000 square feet of medical office space and the third and fourth floors will feature 19,000 square feet each consisting of either medical office uses or ambulatory surgical centers.

Phase 1 will also include building the master infrastructure to serve future phases of the hospital. According to the plans, AdventHealth is still considering demolishing the current Holy Land Experience structures for future phases.

Kimley-Horn is the civil engineer assigned to the project. The proposed plans are set to go before Orlando’s Municipal Planning Board on Feb. 15.

Earlier this summer, the hospital system paid $32 million for the 14.2-acre site on the northeast corner of Vineland Road and Conroy Road.

The Christian theme park’s parent company, Trinity Broadcasting Network, had struggled to keep the business afloat. Shortly before the pandemic struck, Holy Land Experience ended all of its stage shows and laid off much of its workforce.

AdventHealth is one of the largest faith-based health systems in Florida. Its Central Florida division has more than 20 hospitals and ERs across seven counties.

 

Source:  Orlando Sentinel

 

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Orthopedic Hotspot: 10 Major Developments In Florida

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Florida’s population growth, increasing baby boomer population and tax-friendly stance contribute to it becoming a key battleground for orthopedics, with many high-profile practices such as Rothman Orthopaedic Institute and Hospital for Special Surgery recently expanding to the Sunshine State.

Here are 10 key orthopedic developments in Florida this year:

1. Altamonte Springs, Fla.-based AdventHealth on Dec. 16 topped off its 12-story Innovation Tower that will be dedicated to orthopedics and neuroscience. The $100 million facility, expected to open in late 2022, will house Philadelphia-based Rothman Orthopaedics and Orlando Neurosurgery.

2. Orlando (Fla.) Health Jewett Orthopedic Institute, a $250 million project, is on track to open in 2023. An adjacent medical pavilion and a 12-operating room ASC will open in late 2022.The 75-bed hospital will span 195,000 square feet and is expected to bring 500 jobs to the community.

3. New York City-based Hospital for Special Surgery launched an outpatient total joint replacement program in West Palm Beach, with Martin Roche, MD, serving as director.

4. Andrews Institute in Gulf Breeze, Fla., partnered with Flagler Health+ to build an ASC in St. Johns, Fla., and develop a wider network of sports medicine providers and services in Northeast Florida. In 2020, Flagler launched its Orthopedic Specialists practice, which has facilities in Palm Coast, St. Augustine and Ponte Vedra, Fla.

5. Orthopaedic Associates of St. Augustine (Fla.) affiliated with Jacksonville, Fla.-based Southeast Orthopedic Specialists to create a multispecialty musculoskeletal care platform with more than 100 providers. Under the partnership, Orthopaedic Associates of St. Augustine will join Phoenix-based Healthcare Outcomes Performance Company’s integrated care network.

6. Orthopaedic Medical Group of Tampa Bay (Fla.) is building a 37,000-square-foot complex in Lithia, Fla., that will serve as its new headquarters. The 10-surgeon practice expects to have 50 to 75 staff — with the capacity to add more — at the complex, which will include an ASC and medical offices.

7. A group of 29 orthopedic surgeons are planning to build a 24-bed surgical hospital in Delray Beach, Fla., despite some opposition from the community. The surgeons argue that there is a need for the facility, partly because of Palm Beach County’s projected baby boomer growth, which is expected to increase 40 percent by 2030.

8. Orlando-based UCF Lake Nona Medical Center, a $175 million facility with inpatient and outpatient spine and orthopedic surgery, opened March 1. The academic hospital is a partnership between the University of Central Florida in Orlando and HCA North Florida Division.

9. Aventura (Fla.) Hospital and Medical Center opened a 90,000-square-foot tower that houses its Orthopedic & Spine Institute. The expansion was a $60 million investment by Nashville, Tenn.-based HCA Healthcare and HCA East Florida.

10. Coastal Orthopedics is developing an 88,000-square-foot medical center and headquarters in Bradenton, Fla. The facility will include a surgery center, physical therapy and imaging services, and offices. Construction is set for completion by spring 2022.

 

Source:  Becker Spine Review

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Flagler Health+ Buys Property For New Hospital In Palm Coast Off US 1, Palm Coast Parkway

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Flagler Health+ purchased 70 acres of property in Palm Coast with plans to build a comprehensive health complex, including a hospital, on the west side of the U.S. 1 and Palm Coast Parkway intersection, officials announced.

“The scope and timing of the hospital campus project is still in development,” said hospital spokeswoman Gina Mangus in an emailed statement. “We are excited to bring locally based hospital care and more services to the region that truly serve the unique needs of this very special community.”

The hospital system paid more than $2.2 million for the property, according to Flagler County Chairman Joe Mullins.

This is the second new hospital announced in Flagler County this year. In January, AdventHealth, which operates the only operational hospital in the county, announced plans to construct a $145-million, 100-bed hospital off Palm Coast Parkway near Bridgehaven Drive. The hospital system broke ground in September and the facility is expected to open in the spring of 2023.

Palm Coast Mayor David Alfin said the city needs more health-care services.

“This will be another defining moment in the history of the City of Palm Coast as we welcome a second health-care service provider network into the city,” Alfin said Monday. “The demographic obviously supports health care and we look forward to the new arrival to broaden the variety of services and increase the service level of care to residents.”

Flagler Health+, which also operates Flagler Hospital in St. Johns County, did not provide details regarding cost, timeframe or a name for the new hospital.

“To ensure the community’s needs are being met, our strategy team conducted a market study which demonstrates that there is a need for additional outpatient care, acute care services and inpatient beds,” Mangus said in her statement. “With that, we are currently in discussions with UF Health regarding a collaborative approach to best achieve this.”

Mullins hopes the hospital will be up and running within the next year.

“They still need to go through planning and zoning,” he said.

But according to Mullins, Flagler Health+ will start collaborating with the county as early as next month with the addition of behavioral health services.

Flagler County’s Medical Needs

The county has been in talks with Flagler Health+ for the past two years, according to Mullins.

“We sat down with them a few years ago and have been working with them the last two years looking at locations,” Mullins said. “We’re very excited. They are committed to being a very strong community partner and have started working with us on mental health needs.”

The county, along with the cities of Palm Coast and Bunnell, have been working together to try and address the community’s medical needs, according to Mullins. Their hope is to turn Flagler County into a medical hub.

“This will bring high-paying jobs and services that the whole region can use, not just our county,” Mullins said. “They are recession-proof jobs. You just see an industry that is needed all the time.”

But for the moment, the most urgent needs are mental health services, labor and delivery, and other trauma-related services, according to Mullins.

“We need these services,” he said. “We have one of the top suicide rates in the state of Florida, no mental health services, zero labor and delivery and we’ve seen so many people come into the area that need them.”

Right now, AdventHealth Palm Coast is the only hospital in the county, and while it has stepped up to help care for the elderly in Flagler County, it has not been able to meet the additional needs for the younger population, according to Mullins.

Anyone needing labor and delivery or trauma services must travel to Volusia County to either Halifax Health or AdventHealth Daytona Beach or to Flagler Hospital in St. Johns County.

“As we step up as a community, these services are needed,” he said. “Flagler County is not gonna sit back and wait any longer for these things to happen. We’re going to get ahead of it.”

Adding another hospital will expand care options for residents across not just Palm Coast but the county as well.

“I think the market supports the competing health-care networks to the benefit of our residents,” Alfin said. “I believe there are enough patients and people who will use the hospital here to support what will now be three campuses. All of our residents in the City of Palm Coast will be in close proximity to all of the health-care services that they demand.”

Other Expansions By Flagler Health+

Flagler Health+ recently reached a clinical agreement with UF Health that includes expanding graduate medical education programs and an array of clinical services across Northeast Florida.

This will include new primary care sites in St. Johns and Flagler counties. Details have not yet been released as they are still under discussion, according to a hospital system press release.

Civil engineering work is currently underway on 7 acres that Flagler Health+ owns at the southwest corner of Matanzas Woods Parkway and Belle Terre Parkway where the it will build a signature health village, according to the release. The Palm Coast health village will incorporate family practice, behavioral health services, orthopedics, specialty care, imaging and laboratory services.

Flagler Health+ has already expanded its footprint in Flagler County with the addition of an orthopedics practice in the Palm Coast Town Center, a primary care office on Old Kings Road, and a virtual walk-in clinic located inside Publix.

In February, Care Connect+ also opened an office inside Flagler Health+ Specialty Care at 50 Cypress Point Parkway to better serve and coordinate care.

Care Connect+ awarded four Innovators Micro Grants to Flagler County nonprofit organizations to support programs for people experiencing homelessness, hunger, behavioral health issues, financial instability, or lack of access to transportation, medication or health care in Flagler County, according to the release.

 

Source:  The St. Augustine Record

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Two Boynton Beach Medical Offices Sell For $38 Million

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ShareMD Properties paid $38.1 million to acquire a pair of office buildings near Boynton Beach.

Both sales were by affiliates of Cleveland-based Woodside Health. Palm Beach County has a growing senior population, so there’s strong demand for medical office space.

Elliot LaBreche and Abigail Kind of Vitalis brokered the deals.

“This transaction solidifies ShareMD’s position as one of the largest medical office owners in the market,” said George Scopetta, chief investment officer of Alpharetta, Georgia-based ShareMD, which was founded in 2018 to acquire medical office space.

Boynton Medical Properties, an affiliate of Woodside, sold the 49,884-square-foot medical office at 10151 Enterprise Center Blvd. It was built on the 5-acre site in 2007.

West Boynton Medical Properties, also part of Woodside, sold the 49,708-squre-foot medical office building at 7593 Boynton Beach Blvd. It was completed on the 4.2-acre site in 2005.

Woodside acquired the building on Enterprise Center Boulevard or $14.8 million in 2017, and then the building on Boynton Beach Boulevard for $13.4 million in 2020.

“We created a win-win for ShareMD and Woodside Health when we pitched the opportunity to acquire both assets in 2020” LaBreche said. “These buildings are 86% leased and 100% of rents have been collected during the pandemic reinforcing the investment thesis that medical office outperforms during economic downturns.”

 

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