As the population grays, with older Americans projected to outnumber children in 2035, according to the Census Bureau, hospital systems are looking to build and investors are looking to get a piece of the action by buying medical office buildings — a sector that saw acquisition volume more than double year-over-year.
The property, which was 100% occupied, closed on May 12 for $11 million.
A total of 43 phases were delivered as part of the overall project.
Olympus said it will build 175,000 square feet of medical office space to anchor the Olympus Health & Wellness campus
The unanimous approval from the Brevard County Planning and Zoning Board follows a similar unanimous vote on April 28 from the Merritt Island Redevelopment Agency.