The hospital has submitted a comprehensive plan amendment to Palm Beach County for an 18.85-acre site it owns, located just west of the existing hospital.
More expansion is planned. At least six new medical facilities have been proposed in Lakeland.
Cleveland is now in the process of purchasing land for the hospital.
The healthcare property features 33 exam rooms, eight operating rooms, three endoscopy suites, 33 cancer treatment units, radiology services, a lab, onsite pharmacy, seven-story parking garage and a central energy plant.
The deal would generate $1.05 billion in rent over 99 years. RUDG would have two years to secure financing for the first phase, aiming to complete it by February 2030.