Partnership To Develop 87-Acre Healthcare Campus In Panama City Beach

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The St. Joe Co., Tallahassee Memorial HealthCare Inc. (TMH) and Florida State University College of Medicine have partnered to develop a healthcare campus in Panama City Beach.

The campus’ planned location is on an 87-acre parcel near the intersection of State Highway 79 and Phillip Griffitts Sr. Parkway. The property is planned to be close to the Latitude Margaritaville Watersound community, a 55-and-older community that is planned for 3,500 homes.

Future development plans of the healthcare campus include the construction of an emergency center and 100-bed inpatient facility offering services such as gastroenterology, urology, gynecology, cardiology and general surgery, among others. The parties intend to create a local fiduciary governance structure for the planned campus.

TMH currently serves 17 counties in Florida and Georgia. This would be its first facility in Bay County. The parties intend to break ground on the project as early as 2022.

 

Source:  RE Business

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Investor Alert: Land For Sale Next To AdventHealth’s Orlando Campus

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Several properties are hitting the market in a hot corner near downtown Orlando, College Park and Winter Park.

Roughly 3.4 acres are for sale southeast of Wilkinson Street and Orange Avenue near AdventHealth‘s downtown Orlando campus.

JLL‘s John Gilbert and Darryl Hoffman are marketing the properties separately, but combined they may offer a larger redevelopment opportunity which could create jobs and provide new amenities to residents, workers and more.

No one is under contract to buy the properties, which feature roughly 38,000 square feet of commercial space built between 1958-1981, Orange County records show.

Property owners include John W Davies Revocable Living Trust, Orlando Dental Medical Center Inc. and 600 Wilkinson LLLP. Combined, the properties have a market value of $5.8 million, according to the Orange County Property Appraiser. Some parcels have approvals for future development. For example, the 1-acre 600 Wilkinson St., which features an 11,500-square-foot building with short-term leases, can be converted into a 60,000-square-foot, four-story office building with parking garage, according to marketing materials.

 

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Investor With His Eye On Medical Offices Continues Buying Spree, Snags West Palm Beach Office Buildings For $7M

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An investor is continuing his South Florida office shopping spree, scooping up a West Palm Beach property for $7 million.

Allen Chelminsky, through his affiliate Palm Beach Lakes Corporate Center, bought two office buildings at 2001 and 2007 Palm Beach Lakes Boulevard from Ganzer Brothers, a company managed by Glen Ganzer, a deed shows. Chelminsky took out a $5.6 million mortgage from Ganzer Brothers.

The purchase includes a one-story, 10,206-square-foot medical office building; and a five-story, 39,442-square-foot office building that also allows for medical offices, according to property records. The buildings were built in 1973 and 1974.

Ganzer Brothers bought the buildings in 2001 for $4.4 million from 2001 Partners, an affiliate of Royal Landscaping in Boynton Beach, a deed shows.

Chelminsky’s latest purchase follows his acquisition in October of the two-tower office complex Concept II in Lake Worth Beach for $10.9 million. In July 2019, Chelminsky bought another pair of office buildings at 7100 West Commercial Boulevard and 7200 West Commercial Boulevard in Lauderhill for $5 million.

The investor is focusing on medical offices, as both buildings he bought in 2019 are medical offices, and a healthcare services firm occupies the property he bought last year.

In Chelminsky’s most recent acquisition, the smaller one-story building is occupied by an MD Now Urgent Care.

 

Source:  The Real Deal

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Senior Living Developer Obtains $42M To Build Near Jackson Health Medical Center

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An affiliate of Aventura-based Royal Senior Care is building a senior living facility in southern Miami-Dade County thanks to a $41.86 million construction loan.

Bank Hapoalim provided the mortgage to RSC Coral Reef Propco LLC, an affiliate of Royal Senior Care, for the project at 15005, 15055 and 15060 S.W. 97th Ave. It will be part of the Coral Reef Wellness Center near Jackson South Medical Center.

The three buildings will have a combined 229 congregate living units, including for assisted living, memory care and independent living. They will total about 212,000 square feet and include two pools.

 

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Jupiter Medical Center Proposes Major Expansion

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Jupiter Medical Center has a major expansion in the works, with a new surgical center to replace a skilled nursing building.

JMC is one of the few stand-alone hospitals left in South Florida, and it’s aiming to enhance its facilities to keep pace with competition.

The skilled nursing building on the southwest corner of the JMC campus would be demolished, and a two-story, 80,470-square-foot surgical center would be built in its place. It would include 18 operating rooms.

In addition, JMC is looking to expand its emergency department by 2,500 square feet, create eight rapid treatment stations, and construct a 6,200-square-foot addition to its central energy plant.

Patti Patrick, VP and chief strategy and growth officer at JMC, said the new Surgical Institute would be the biggest capital project in the hospital’s history and create more than 100 jobs.

 

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