Four Recent Florida Medical Office Building Deals

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Florida is one of the most active states for medical real estate.

Four Florida medical office building transactions in the last 30 days:

1. The Citrus Tower medical office building in Clermont, was acquired by Flagship Healthcare Trust, an outpatient healthcare real estate investment trust. The property is 20,964 square feet.

2. A medical office building in Brandon, was sold for $39 million. The building houses an OB-GYN practice that offers pregnancy, gynecology, women’s health and cancer services.

3. A medical office building in Plantation, was sold for $45.5 million. The 101,851-square-foot building is fully leased to the University of Miami Health System and was bought by real estate investment firm Anchor Health Properties.

4. A former movie theater in Kissimmee, is being converted into a medical office building that will be home to an ASC, a lab and a radiology center. The 19,618-square-foot building will be transformed into a nearly 40,000-square-foot, two-story building. The project is estimated to cost $5 million.

 

Source:  Becker’s ASC Review

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Orlando Health Plans Pasco County Hospital

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Orlando Health is expanding in the Tampa Bay area with plans for a new hospital in Wiregrass Ranch, a high-quality, master-planned community of more than 5,000 acres.

Located at the northeast corner of the intersection of State Road 56 and Wiregrass Ranch Boulevard, Orlando Health Wiregrass Ranch Hospital will be easily accessible for residents living in Pasco County and northern Hillsborough County.

“With the tremendous growth on Florida’s West Coast, we are truly excited to have Orlando Health meet the needs of this region,” said John Moore, senior vice president of Orlando Health’s West region. “At Orlando Health Wiregrass Ranch Hospital, we will provide a broad range of healthcare services, all in one convenient location. Patients will receive exceptional emergency and inpatient care from clinical experts in multiple specialties, the highest quality diagnostic services, and seamless access to all of Orlando Health’s trusted primary and specialty care providers.”

A site plan submitted to Pasco County provides a glimpse into the ultimate 300-bed multi-story hospital and wellness campus.

“We are thrilled to welcome an amazing health system like Orlando Health to our Wiregrass Ranch Community,” said J.D. Porter, Wiregrass Ranch Inc.  “Access to the best healthcare has always been a foundation of the Wiregrass Ranch community and Orlando Health’s excellent track record of putting patients first will no doubt serve our vibrant and growing population looking for high quality healthcare, and a great foundation to our town center.”

The property purchase is slated to close later this fall. An official groundbreaking and opening date will be announced at a later date.

 

Source:  Orlando Health

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Podcast: Tampa General CEO John Couris On Building A New Medical District In Tampa

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Tampa Bay Business Journal Editor in Chief Alexis Muellner recently spoke with John Couris, president and CEO of Tampa General Hospital, for a segment of the Florida Business Minds podcast.

Listen to this podcast HERE.

 

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Big Sky Medical Real Estate Lassoes Fully Leased MOBs In Brandon, Plant City

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JLL has closed the sale of two newly constructed, Class A medical office buildings totaling 75,000 square feet in the Tampa submarkets of Brandon and Plant City, FL.

Brian Bacharach, Mindy Berman, Brannan Knott and Vasili Davos of JLL represented the seller, Harrod Healthcare Real Estate. Big Sky Medical Real Estate acquired the properties.

The two properties are fully leased to Women’s Care, a multispecialty women’s health practice with more than 350 providers and over 100 outpatient locations across Florida. The best-in-class outpatient facilities were constructed in 2019 and designed to house multiple specialties including OBGYN, fertility, fetal medicine, breast surgery and gynecological oncology.

 

Source:  Connect CRE

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Developer Buys Davie Site To Build Health Care Project

Home Communities Medical Offices and ALF at 8180 Griffin Road, Davie

Home Communities Co. purchased a development site in Davie for a combined $7.25 million and obtained a construction loan.

Doc-Griffin Road MOB LLC, an affiliate of Milwaukee, Wisconsin-based Physicians Realty Trust (NYSE: DOC) provided the $18.38 million mortgage to HHC Davie LLC, an affiliate of Birmingham, Alabama-based Home Communities Co., shortly after it purchased the property.

In the bigger deal, 940 West 84th Street LLC, managed by David Laurence, and Schecky46 Inc., managed by Steve Schechtman, sold 6.95 acres at 8150 and 8160 Griffin Road plus 4760 S.W. 82nd Ave. for $5.075 million.

In addition, Griffin Rd Holdings LLC, managed by Laurence, sold 2.6 acres at 8180 Griffin Road for $2.175 million.

As previously reported, HCC filed plans for a medical office building and assisted living facility there.

The project is slated for a three-story, 42,000-square-foot medical office building and a four-story assisted living facility with 274 beds housed in 185 residential units. There would be 308 parking spaces, including four electric vehicle charging stations.

 

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