The Villages Preps Large Mixed-Use Development Anchored By Hospital

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A $100 million-plus mixed-use development with a hospital is in the pipeline for The Villages near the border of Lake and Sumter counties.

The Villages Development Co. LLC — tied to the 35,000-acre retirement community that spans three Florida counties — is seeking Lake County job creation incentive funds for a 435-acre, multi-phase project. It will be built near the Florida Turnpike and County Road 470, with approximately 240 acres in Lake County and 195 acres in Sumter County. Development of the first phase is expected to kick off in late 2021 or early 2022.

Lake County commissioners initial approved the economic development incentives in December 2020, when the project was referred to as “Project Go West.” The final agreement is set to go before the Lake County Commission on July 27.

The large-scale, mixed-use project would have a “Wellness Village” anchored by a regional hospital and aims to include targeted industries such as health care, translational science, research, academic, regional retail and commercial facilities. It will be built in phases by the applicant and other end-users recruited by the applicant.

 

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University Community Medical Plaza Sells

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Marcus & Millichap announced the sale of University Community Medical Plaza, a two-story, 20,299-square foot office property on a 2.68-acre lot located in Tamarac.

The asset sold for $4,700,000.

Alex D. Zylberglait and Michael Crocchiola, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a private investor, was secured and represented by Zylberglait and Crocchiola.

“The Buyer will benefit from the stability of the tenancy and the upside in rents in this strong suburban market,” noted Zylberglait.

The property offers a unique opportunity for the investor to acquire an office building in a highly sought-after metro with ample parking backed by an established tenant roster consisting of medical professionals and specialists with generous lease terms and annual rent escalations.

University Community Medical Plaza is located at 7401 N University Dr. in Tamarac. The medical office building is adjacent to University Hospital and Medical Center; a large 317-bed medical facility awarded the Gold Seal of Approval™ from the Joint Commission. The Joint Commission is a leader in the accreditation and certification of health care organizations.

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CIP Group & LV Development Announce JV To Develop Assisted Living Facility Near Dadeland

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Sunset Point ALF, LLC, an affiliate of Miami-based real estate development firm CIP Group, and LV Development, an affiliate of Miami-based Linkvest Capital, announced a joint venture to develop a 40,000-square-foot, 120-bed assisted living facility at 9985 Sunset Drive in an unincorporated area near Dadeland.

The partners acquired the vacant acre site for $3.7 million from Stupp Family Partnership Ltd. Closing took place on June 30.

Groundbreaking is slated for Q1 2022.

Sunset Point ALF, LLC is led by Genaro Garcia, Fernando Espino and Carlos Alonso. LV Development is led by Camilo Niño and Ricardo Uribe.

 

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New Medical College Proposed For Metro Orlando

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A new medical college is being proposed for Horizon West.

Plans for a potential 136,194-square-foot facility on 25 acres on Avalon Road are set to go before Orange County’s technical review group on July 21. Palmetto-based Element Commercial Construction LLC is listed as the developer, while the property owner is Hamlin Partners at Silverleaf LLC, an entity tied to Hamlin developer Boyd Development Corp.

Hamlin Partners at Silverleaf LLC bought the 149-acre property — which includes the land for the college — on Feb. 15 as part of a $8.09 million purchase from Jen Florida 36 LLC.

The vacant land is near both Orlando Health Horizon West Hospital at 17000 Porter Road and a 155.2-acre piece of land owned by Valencia College that it plans to build a campus on eventually.

 

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Ocala Regional Medical Center Breaks Ground On New $65M Expansion

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The Ocala Regional Medical Center broke ground on a new $65 million expansion this week.

The new project will add a dedicated 36-bed neurological intensive care unit, five new cardiovascular procedure suites, and significant renovations of dining space and laboratory facilities.

Multiple Ocala and Marion County elected officials attended the ceremony, including Marion County Commissioner Kathy Bryant, Ocala Mayor Kent Guinn, and Florida House Representative Stan McClain, among others.

Ocala Health CEO Chad Christianson says this expansion will effectively tap out the existing space for construction on the Ocala Regional Medical Center campus.

The new project will add over 49,091 square feet of new space and renovate an additional 9,976 square feet of existing space.

With the additional 36 beds, the facility now boasts a total of 323 inpatient beds.

The organization hopes to have the new unit open by the third quarter of 2022.

 

Source:  Ocala News

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