UCF Lake Nona Hospital Among New Local Facilities To Open In 2021

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A number of projects are expected to grow the presence of health care providers in the area this year.

Each of the region’s three largest health care systems — Orlando Health, AdventHealth and HCA Healthcare Inc. — are slated to open new facilities, including hospitals, medical office buildings and freestanding emergency rooms.

These established players aren’t the only ones with construction projects on the books. Jacksonville-based Brooks Rehabilitation plans to open a rehab hospital in Lake Nona, its first in the Orlando area.

Non-health care companies also have medical projects in the works. For example, Bentonville, Arkansas-based Walmart Inc. is bringing a new health care concept to a few of its local stores.

Medical construction projects like these represent opportunities to add construction jobs, as well as provide huge-value projects for companies. Additionally, new health care facilities are needed in areas where the population is growing.

One example is multinational construction firm Skanska signing a $64 million contract to build Orlando Health’s 370,000-square foot, $341 million Orlando Health Jewett Orthopedic Institute. The project — which is expected to be completed by second-quarter 2023 — will create roughly 1,000 temporary construction jobs along with 500 permanent health care jobs.

 

Source:  OBJ

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Palm Beach County Site Could Be Rezoned For Medical Office Project

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A medical office building could be developed next to the HarborChase of Wellington Crossing assisted living and memory care facility.

SGD Wellington Crossing LLC, an affiliate of Dallas-based Silverstone Senior Living, filed a land-use amendment with Palm Beach County for the 17.8-acre property at 8785 Lake Worth Road, near Wellington. It currently has a 136-unit assisted living facility, which was developed in 2018.

 

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Ardent Buys South Miami Medical Office Building For $37M

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An Atlanta-based real estate investment firm paid $36.7 million for an eight-story South Miami medical office building.

An affiliate of the Ardent Companies bought the building, known as Sunset Medical, at 6262 Sunset Drive, according to records. Ardent is led by Matt Shulman.

The seller is an affiliate of USAA Real Estate Company. The San Antonio-based real estate investment firm bought the building, built in the 1980s, for $40 million in 2015. USAA is led by Len O’Donnell.

The building hit the market unpriced in February, according to an online listing. Occupancy was 55 percent at the time with a net operating income of $1.2 million.

In May, Transwestern Real Estate Services’ South Florida agency leasing team announced it was hired to exclusively lead leasing efforts for the building and reposition it from traditional office to medical office space, according to a statement from the time.

The building had 43,000 square feet of availability at that time, after Interval International consolidated to the top two floors. Interval is an affiliate of Marriott Vacations Worldwide.

 

Source:  The Real Deal

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Woodside Health Florida Coast MOB Portfolio In Vero Beach And Estero Sells

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CBRE U.S. Healthcare and Life Sciences Capital Markets recently announced the sale of the Woodside Health Florida Coast MOB Portfolio (the “Portfolio”).

The Portfolio consists of three medical office buildings that are 97% leased to a diverse and established mix of tenants. Complementary and highly specialized practices housed within the properties create an ecosystem for referrals amongst physicians that supports tenant retention. Specialties within the Portfolio include oncology, radiology, urgent care, orthopedics and neurology, among others.

Oak Point I and II are located at 3730 & 3755 7th Terrace in a medical office subdivision in Vero Beach, Florida, about an hour north of West Palm Beach. The two buildings total ±41,395 square feet and are strategically situated less than half a mile from the Cleveland Clinic Indian River Hospital, a 332-bed short term acute care hospital with emergency services. Estero Medical Center, is located at 10201 Arcos Avenue on Florida’s west coast, just south of Fort Myers. The ±35,968-square-foot, two-story property is home to nine medical tenants. It sits a half a mile west of I-75 which allows for exceptional accessibility for patients and providers.

 

Source:  HREI

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Medical Practice Plans 88,000-SF Headquarters Project

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A Manatee County orthopedic practice recently announced plans to build a new headquarters and medical facility — in what could be one of the largest construction projects of 2021 in the Bradenton area.

The project, for Coastal Orthopedics, calls for an 88,000-square-foot facility on a 17-acre parcel on State Road 64, just east of Interstate 75. Coastal has had a large presence in east Manatee County for 16 years, and this move, says Coastal Orthopedics President Dr. Arthur Valadie, recognizes that and the area’s continued rapid population surge.

“We’ve made a huge commitment to east County by putting our largest location, to include all of our administrative offices, out there,” Valadie says in an interview with the East County Observer, sister paper of the Business Observer. “We think that’s going to allow us to provide care for that whole corridor, all the way from Parrish and Ellenton, all the way down to that huge amount of growth in Lakewood Ranch and south down to Sarasota County. And the fact that we’re about a half-mile off the interstate really makes all of our services accessible.”

Construction is expected to begin in January. Coastal officials declined to put a total projected value of the project because they were still bidding out work through mid-December. The building will be designed in the style of Sarasota modern architecture — open-plan structures and large panels of glass that fit with the surrounding area, according to the East County Observer story. Albany, N.Y-based BBL Construction Services will oversee construction.

Plans for the facility include clinical services, an ambulatory surgery center, physical therapy department, administrative offices and diagnostic imaging services such as X-ray and MRI. Coastal Orthopedics plans to move into the building in spring 2022. There will also be a six-room surgery center to help address increasing demand for outpatient surgery, particularly joint replacement and spine surgeries.

Coastal Orthopedics, founded in 1973 and now with nearly 300 employees, has four other Manatee County locations. Some 150 to 200 employees will be based out of the new facility. “It’s going to be our largest clinic location,” Valadie says. “And obviously, it’s going to be a large surgery center. We’d like to have our administrative offices under the same roof so that there’s more seamless operations.”

 

Source:  Business Observer

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