Tag Archive for: adventhealth

Flagship Healthcare Trust Acquires Clermont MOB

Citrus Tower medical office building in Clermont, Florida

Flagship Healthcare Trust, a Charlotte-based outpatient healthcare real estate investment trust (REIT), has acquired the Citrus Tower medical office building (MOB) in Clermont, Florida.

Located at the Citrus Tower Boulevard and Johns Lake Road intersection, the 20,964-square-foot, Class A property serves as the anchor building for Citrus Tower Park and is home to the newest location for IMA Medical Group (IMA), the area’s leader in patient-centered care for wellness and preventative medicine. The MOB is approximately 1.5 miles from the 170-bed Orlando Health South Lake Hospital and AdventHealth Clermont Park, a 24-bed freestanding Emergency Department and health park.

Clermont is a suburb of Orlando, one of central Florida’s fastest-growing cities and a thriving healthcare sector. The region is home to three other hospitals in addition to Orlando Health South Lake and AdventHealth: Nemours Children’s Hospital, Orlando VA Medical Center, and HCA – Central Florida Regional Hospital.

“This property is well-positioned in the Orlando MSA, close to two major hospitals and with excellent access to commercial and transportation corridors. The newly constructed Citrus Tower MOB will be an attractive option for medical practices in this dynamic and rapidly growing market,” said Gerald Quattlebaum, Flagship’s Executive Vice President of Acquisitions. “We look forward to complementing the existing tenant mix all the while providing first-class real estate services that support their missions and business aspirations.”

Flagship Healthcare Properties, which serves as the external manager for the REIT, will provide asset management and property management services for the property. The team at Fifth Third Bank, led by Michael Perillo, will provide financing for this off-market transaction.

 

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Medical Office, Hospital Expansions Among Orlando’s Largest Proposed Health Projects This Year

adventhealth palm coast parkway

There’s no lack of health care projects in Orlando so far in the first six months of 2022 — bringing more construction and jobs into the area.

Major care systems like AdventHealth and Orlando Health are finishing up respective projects estimated in the millions of dollars.

For example, Orlando Health has plans to wrap up its $341 million, 370,000-square-foot Orlando Health Jewett Orthopedic Center during 2023. Also, Altamonte Springs-based AdventHealth is finishing its 12-story, 300,000-square-foot Innovation Tower medical office building in downtown Orlando later this year and is preparing a new freestanding emergency department and medical office on the former site of The Holy Land Experience in Orlando’s Millenia neighborhood.

Nationally, the activity is following the same trend. Raleigh, North Carolina-based FMI Corp. expects health care construction spending in the U.S. to go from $53 billion in 2022 to $62 billion in 2025. That is due to demand for services for an aging population and the addition of people to certain parts of the country.

Jeff Butler, senior pre-construction manager in Florida for Birmingham, Alabama-based Robins & Morton, previously told Orlando Business Journal his company has seen a lot of local health care systems and companies invest in facilities due to the area’s population growth and other factors.

“We are seeing more health systems add capacity to their hospital campuses, from inpatient beds to emergency, imaging and specialty care services,” Butler said. “We believe some of this is a response to the lack of bed availability throughout the Covid pandemic, but we also believe it’s a reaction to aging infrastructure.”

Here are some of the largest health care projects proposed so far in metro Orlando:

Healthcare Trust of America Olympus medical office

  • Cost: Estimated at $100 million
  • Description: Healthcare Trust of America (NYSE: HTA) has proposed 175,000 square feet of space, including a 96,000-square-foot building in the first phase inside the Olympus mixed-use development in Clermont. The Scottsdale, Arizona-based company is targeting the start of construction either this December or January 2023.

AdventHealth’s two new medical office buildings

  • Cost: Roughly $30 million each, $60 million total
  • Description: AdventHealth will open a new three-story, 58,000-square-foot medical office building with an outpatient surgical center at 950 Rinehart Road in Lake Mary early next year and a new two-story, 36,000-square-foot medical office building will open at 5821 S. Williamson Blvd. in Port Orange in October. Both projects are located next to existing freestanding emergency rooms.

HCA Florida Poinciana Hospital expansion

  • Cost: $9.9 million
  • Description: HCA will build out 13,000 square feet of shell space in the hospital, expanding the hospital’s intensive care unit capacity from six to 12 bed and adding 18 inpatient beds to reach a total of 94. The project is expected to wrap up in spring 2023 after starting construction in May.

Orlando Health Center for Rehabilitation conversion

  • Cost: Not listed
  • Description: Orlando Health is establishing its first rehabilitation hospital in the region by converting the Orlando Health Center for Rehabilitation on the campus of Orlando Health – Health Central Hospital in Ocoee into a 54-bed inpatient facility. The hospital will have room to expand up to 100 beds in the future and is expected to start taking patients in 2023.

HCA Healthcare Inc.’s new Lee Vista emergency room

  • Cost: Not listed
  • Description: The Nashville, Tennessee-based (NYSE: HCA) health system filed plans with the city of Orlando for a 10,860-square-foot, one-story freestanding ER at 5597 Lee Vista Blvd. in Orlando, where it has a ground lease. A timetable for the facility to be built has not been announced yet.

 

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AdventHealth Buys More Lake County Property

adventhealth

AdventHealth just bought a portion of Clermont land that was part of a recent, larger sale.

Ohio-based developer Coastal Ridge Real Estate bought a 49-acre property from the Clont family on June 2 for $7.35 million, according to county records. The developer then sold a 24-acre portion of the property closer to U.S. 27 to an entity related to the Altamonte Springs-based nonprofit health system for $5.75 million. The land is next to the 250-acre, mixed-use Olympus development in Clermont, which is slated to feature residential, sports venues, retail and medical uses.

“AdventHealth has no immediate plans for this parcel,” Kari Vargas, CEO of AdventHealth’s West Orange and South Lake market, told Orlando Business Journal. “We will continue to assess the health needs of the fast-growing South Lake County community, to ensure we utilize the property in a way that best serves those needs.”

Founded in 1908, AdventHealth’s Central Florida division includes more than 20 hospitals and ERs in the seven-county area in and around Orlando. Its hospitals and other outpatient services see more than 5.7 million patient visits annually. The health system has 37,000-plus employees across Central Florida. Nationally, the organization has more than $12.5 billion in annual operating revenue.

Meanwhile, Raleigh, North Carolina-based FMI Corp. expects health care construction spending in the U.S. to go from $53 billion in 2022 to $62 billion in 2025. That is due to demand for services for an aging population and the addition of people to certain parts of the country.

 

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New $164 Million AdventHealth Location Expected to Open Next Spring To Meet Needs Of Palm Coast And Flagler County

adventhealth palm coast parkway

AdventHealth‘s new hospital on Palm Coast Parkway will open next spring, with 80 beds, according to AdventHealth staff. The hospital has the capacity to later expand to 100 beds.

The four-story building under construction on Palm Coast Parkway between Bridgehaven Drive and AdventHealth Way will cover approximately 158,000 square feet, with an emergency department, imaging services, a heart catheteriztion lab, five operating suites, critical care, endoscopy services and an outpatient laboratory.

A 30,000-square-foot medical office building will be constructed to the west of the hospital building and is expected to open around the same time as the hospital.

Together, they’ll cost an estimated $164 million, said AdventHealth Program Director David Gordon.

The new hospital is about 8 miles north of AdventHealth’s current location on State Road 100.

“The community is growing, and we want to make sure that we can meet the needs of the growing community,” Gordon said. “We went a little further north so we can continue to meet the needs of Palm Coast and Flagler County.”

Although the new hospital will ultimately have a similar number of beds as the current one, which has 99, the new location will have a smaller footprint.

“It’s a very efficient facility,” Gordon said. 

AdventHealth expects the new hospital to generate about 400 jobs when it opens, with an average wage of about $67,000.

The first floor will have emergency services, imaging, cardiology and a cath lab, Gordon said.

Framing has just started inside the building in the area that will become the imaging lab, said building superintendent Casey Mabe, of general contractor Robins & Morton.

The medical office building will have AdventHealth Medical Group services including orthopedic services, surgical services, pulmonology, and an outpatient rehabilitation center.

“It’s a full fledged typical hospital, also with support services,” Gordon said. 

There will also be a helipad, near AdventHealth Way, said Mabe.

The hospital was designed by architecture firm HuntonBrady.

 

Source: Palm Coast Observer

 

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AdventHealth Plans To Turn Holly Land Site Into Hospital Medical Office

HolyLand-Experience 760x320

AdventHealth has submitted plans showing that it intends to build medical offices and a hospital on the former Holy Land Experience site in Orlando, according to a report in GrowthSpotter.

According to a recently submitted application to Orlando’s Municipal Planning Board, the health system won’t be demolishing the existing three-story auditorium nor the existing Holy Land building directly across yet.

Instead, AdventHealth intends to build around the structures at 4655 and 4615 Vineland Road, and embark on a two-phase development plan, called AdventHealth Millenia, that involves building a four-story, 80,000 square foot medical office building (Phase 1) and a five-story, 261,500-square-foot hospital (Phase 2).

Included in plans for the first phase are a helipad, which will require a Conditional Use Permit, and associated surface parking.

The first floor of the medical office building will feature a 20,000-square-foot of Emergency Room.

The second floor will have 20,000 square feet of medical office space and the third and fourth floors will feature 19,000 square feet each consisting of either medical office uses or ambulatory surgical centers.

Phase 1 will also include building the master infrastructure to serve future phases of the hospital. According to the plans, AdventHealth is still considering demolishing the current Holy Land Experience structures for future phases.

Kimley-Horn is the civil engineer assigned to the project. The proposed plans are set to go before Orlando’s Municipal Planning Board on Feb. 15.

Earlier this summer, the hospital system paid $32 million for the 14.2-acre site on the northeast corner of Vineland Road and Conroy Road.

The Christian theme park’s parent company, Trinity Broadcasting Network, had struggled to keep the business afloat. Shortly before the pandemic struck, Holy Land Experience ended all of its stage shows and laid off much of its workforce.

AdventHealth is one of the largest faith-based health systems in Florida. Its Central Florida division has more than 20 hospitals and ERs across seven counties.

 

Source:  Orlando Sentinel

 

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