NYU Pays $33M For Langone Medical Office Dev Site In Downtown West Palm

Medical Office Planned at 324 Datura Street in West Palm Beach 760x320

New York University dropped $33 million for a medical office development site in downtown West Palm Beach, with plans to move its Langone Health to the new building.

NYU bought the 0.6-acre property at 324 Datura Street from an affiliate of Boca Raton-based Morning Calm Management, according to records and real estate database Vizzda.

The site now houses a four-story, 68,800-square-foot office building that was completed in 1950, property records show. Morning Calm paid $10.6 million for the building in 2021.

Last year, Morning Calm filed a proposal to redevelop the site with a seven-story building with 76,400 square feet of medical offices on four levels and three levels of parking, according to an application submitted to the city. The proposal is asking for four variances, including to reduce side setbacks to 15 feet from 20 feet for the portion of the building that’s over five stories.

 

Source:  The Real Deal

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Naples Medical Center Fully Leased, Set To Double In Size

Southbrooke Medical Plaza at 6750 Immokalee Road in Naples_Photo Courtesy of LQ Commercial Real Estate 760x320

Southbrooke Medical Plaza, a new medical center in Naples, has been fully leased, and construction on the second phase of the project is expected to begin later this year.

The tenants for the 20,000-square-foot center at 6750 Immokalee Road are all medical providers with Continuum Surgery Center taking 10,949 square feet of space. The other four tenants are: Designed to Smile Dentistry with 3,666 square feet; All About You Med Spa with 1,639 square feet; HealthQuest PT with 2,170 square feet; and Allegiance Health of Southwest Florida with 1,562 square feet.

LQ Commercial, which represented the developer, Gault Family Cos., announced the tenants.

Collier County records show Gault paid $5 million for the property in 2021.

With the leases in place, Gault is set to begin work on the second phase of Southbrooke in the fourth quarter of the year. That piece of the project is expected to be “a twin to Phase 1.”

 

Source:  Business Observer

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Sunrise Assisted Living Facility Sells For $27 Million

The Westchester of Sunrise 760x320

The Westchester of Sunrise assisted living facility sold for $26.66 million as part of a three-property portfolio deal.

HTA – E Florida LTC LLC, an affiliate of Nashville-based Healthcare Realty Trust sold the 120-bed, 127,846-square-foot assisted living facility at 9701 W. Oakland Park Blvd. to Sunrise FL Propco LLC, an affiliate of New Jersey-based Portopiccolo Group.

Oxford Finance provided $82.4 million in financing to the buyer for the Sunrise property, along with recently acquired assisted living facilities in Jacksonville and Winter Park.

 

Source:  SFBJ

 

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Texas Investor Buys Venice Medical Building For $34.3M

2639 Curry Lane-PAM Health Rehabilitation Hospital of Venice 760x320

A Dallas private equity firm specializing in medical buildings has bought a property in south Sarasota County.

MedProperties bought the newly constructed PAM Health Rehabilitation Hospital of Venice for $34.3 million.

The two-story, 50,000-square-foot building is at 2639 Curry Lane, just shy of two miles from Sarasota Memorial Hospital’s Venice campus.

The previous owner was an LLC tied to Catalyst Health Care Real Estate in Pensacola. Sarasota County property records show Catalyst paid $1.25 million for the land in 2021. According to a June news release from Catalyst, the rehab hospital is a partnership between Pennsylvania-based PAM Health and Kettering Health and has 62 beds “catering to patients in need of complex care.”

MedProperties, according to its website, has spent more than $1.2 billion to develop or buy more than 100 projects totaling 4 million square feet in 23 states.

 

Source:  Business Observer

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South Florida Hospital Group Plans Facility Near Pembroke Pines Mall

Baptist Health South Florida's Medical Office and ER Center Site In Pembroke Pines 760x320

Baptist Health South Florida intends to construct a free-standing emergency room and medical office next to Pembroke Pines’ Shops at Pembroke Gardens.

On January 25, the city’s Planning & Zoning Board will take a look at changing the Edison Pembroke development plan. It is about the 37-acre area between Pembroke Road and Pines Boulevard on the east side of Interstate 75.

Situated just to the south of the popular outdoor shopping center, Duke Realty first approved the land’s use for four residential complexes back in 2007. Of those office buildings, two have been built, one by Atlanta-based TPA Group following its acquisition of the land. TPA Group was given permission in 2021 to convert one of the 7.6-acre office buildings into 350 apartments.

Pembroke 2 Owners LLC, an affiliate of the TPA Group, now wishes to replace plans for a third office building with a project that will house Baptist Health South Florida, a Miami-based organization. It would have a free-standing emergency department and 70,000 square feet of business space spread across three stories.

The project was designed by Miami-based MSA Architects.

The 350-unit apartment project, which is still in the planning stages, along with 125 hotel rooms and an extra 35,000 square feet of offices, would all be permitted to TPA Group.

This site is situated between Memorial Hospital West and Memorial Hospital Miramar, two facilities run by Memorial Healthcare System. Baptist Health has been rapidly growing its outpatient, urgent care, and free-standing emergency department (ED) services in Broward despite not having a major hospital there.

 

Source:  SFBJ

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