Tag Archive for: jll

JLL Tapped By Onicx Group To Lease New Nona Medical Center

Rendering of Nona Medical Center at 10735 Moss Park Rd Lake Nona 760x320

JLL has been selected to lease Nona Medical Center, a new, 45,000-square-foot facility located within the 23-acre mixed-use development East Park Village in Orlando.

Now under construction, Nona Medical Center will be situated at 10735 Moss Park Rd, less than 1 mile east of AdventHealth’s 67.28-acre new mixed-use campus. in Orlando’s highly desirable Lake Nona neighborhood that sits within close proximity to Lake Nona Medical City, a premier location for medical care, research and education.

The JLL brokerage team of Lucia Hedke and Micah Strader will spearhead leasing efforts on behalf of the building’s ownership group, Onicx Group. Known as the chosen partner of healthcare systems and physician groups throughout the state of Florida, Onicx Group is an established multi-asset real estate developer with focus in healthcare, multi-family, industrial, and mixed-use commercial real estate.

“Florida continues to see demand for healthcare related services as the state benefits from steady, organic population growth, domestic migration, and a strong labor pool including nursing professionals that will continue to attract and expand new medical users,” said JLL’s Florida Healthcare Lead Lucia Hedke.“Thanks to its strategic location and additional amenity base close by with East Park Village, Nona Medical Center will be the ideal choice for  local healthcare groups looking to expand their footprint in the region or new to market companies making their entrance into Florida.”

Nona Medical Center will bring 45,000 square feet of medical office space across three floors to East Park Village, a 23-acre mixed-use project, with 18 developable acres located in the fourth fastest growing community in Florida. The project will consist of a 264-unit multi-family development, a 12,540-square-feet retail center, and a 150-key Wyndham hotel. Tenants at Nona Medical Center will enjoy 14’8’’ ceiling heights, two electric gearless traction elevators, and 215 dedicated parking spaces. Ample tenant improvement allowances and signage opportunities are also available.

“Lake Nona has quickly become the state’s leading health innovation hub,” said JLL’s Micah Strader. “The delivery of Nona Medical Center will be a testament to the area’s commitment to creating a centralized focus of sophisticated medical treatment and that will foster related research and education.”

Nona Medical Center is strategically located at the exit ramp of the 417 and Moss Park Road, ensuring high visibility and exposure, and only three miles from Lake Nona Medical City, a landmark 650-acre health and life sciences park known as the signature location for medical care, research, and education. The medical center is anchored by University of Central Florida (UCF) Health Sciences Campus, Sanford Burnham Prebys Medical, Discovery Institute, VA Medical Center, Nemours Children’s Hospital, University of Florida Academic & Research Center, MD Anderson Orlando Cancer Research Institute, Johnson & Johnson, UCF’s Lake Nona Hospital, and the soon to break ground UCF College of Nursing.

According to a recent report by JLL, the Orlando medical office market is highly regarded, with 217 buildings and over 10.4 million square feet of space where Class A buildings account for more than 30 percent of the inventory. The city is well-positioned to attract tenants in the market relative to other markets due to its amenity base and centric location across Central Florida.

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Big Sky Medical Real Estate Lassoes Fully Leased MOBs In Brandon, Plant City

women's care_brandon 760x320

JLL has closed the sale of two newly constructed, Class A medical office buildings totaling 75,000 square feet in the Tampa submarkets of Brandon and Plant City, FL.

Brian Bacharach, Mindy Berman, Brannan Knott and Vasili Davos of JLL represented the seller, Harrod Healthcare Real Estate. Big Sky Medical Real Estate acquired the properties.

The two properties are fully leased to Women’s Care, a multispecialty women’s health practice with more than 350 providers and over 100 outpatient locations across Florida. The best-in-class outpatient facilities were constructed in 2019 and designed to house multiple specialties including OBGYN, fertility, fetal medicine, breast surgery and gynecological oncology.

 

Source:  Connect CRE

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5-Property Seniors Housing Portfolio In Southeast Florida Purchased For $64 Million

sonata-delray

JLL Capital Markets closed the $64 million sale of a five-property seniors housing portfolio with properties located throughout Southeast Florida.

JLL represented an undisclosed seller to complete the sale to the buyer, an affiliate of Fortress Investment Group LLC. JLL is also working on the buyer’s behalf to secure the acquisition financing. All properties are managed by Florida-based Sonata Senior Living, who has operated the communities for more than three years and will continue to manage the properties going forward.

Pete Stone, Managing Director at Fortress Investment Group, says, “We are excited about working with Stuart Beebe and the talented management team at Sonata on the Southeast Florida portfolio. We believe the portfolio is well positioned to benefit from the strong demographic trends in South Florida particularly from the accelerating trend of migration of seniors to Palm Beach county.”

The portfolio includes five Sonata properties totaling 444 units in Delray Beach (80 units), Boynton Beach (92 units), Boca Raton (74 units), Coconut Creek (94 units) and Vero Beach (104 units).

All properties were well-maintained by the previous owner, undergoing over $13 million in capital expenditures over the past four years, including exterior building improvements, furnishing upgrades, new flooring, roof repair, conversions from assisted living to memory care and new generators to comply with Florida regulations.

 

Source:  Yield Pro

 

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Hospital Closes Purchase Of Former Herald-Tribune Building

The Sarasota Memorial Health Care System has closed on the purchase of the former Sarasota Herald-Tribune building on Main Street where it plans to relocate more than 300 support-services personnel.

The hospital’s $17.3 million project includes renovating the three-story, 72,408-square-foot building on 3.8 acres at 1741 Main St. and constructing a one-story parking structure.

Moving the employees will free space for growth on the hospital’s main campus and improve “interdepartmental efficiencies” among support service departments scattered in different buildings, according to hospital officials.

The hospital paid $10.68 million for the building, spokeswoman Kim Savage said Wednesday. The proposal approved in October included $2.26 million to build the parking platform on top of the existing parking lot to add 90 spaces to the current 240 ground-level parking spots. The hospital board on Tuesday approved entering into a contract with A.D. Morgan Corp. of Bradenton to design and build it. Construction is estimated to take 10 weeks.

“We hope to move employees into the building this summer, but our plans depend on the amount of time it takes to obtain necessary permits and build the parking platform,” Savage said.

Once that construction and the building renovation is completed, employees will be moved over four to six weeks, she said. They will primarily work daytime hours Monday through Friday.

“Purchasing the former Herald-Tribune building is a good move for the hospital and the community,” hospital board member Tramm Hudson said. “It will allow us to expand clinical areas to better serve our growing community and relocate about 300 non-clinical staff members who now work in multiple sites to one downtown location.

“We believe centralizing those team members will enable greater collaboration and efficiencies as well as provide additional parking on our main campus for our patients and visitors,” Hudson said.

Local developer Wayne Ruben signed a contract in June to buy the building, most recently listed for $13.95 million, with unspecified plans to redevelop the property. Officials say he approached the hospital last summer about buying the property. Sarasota Memorial had been looking into constructing a new support services facility at its Clark Road campus.

Built in 2006, the building was first listed for sale at $18.1 million when it was fully leased to the Herald-Tribune and IberiaBank. The Herald-Tribune moved to the SunTrust building next door in February 2017 and the building has been vacant since SNN News Now left last month.

It had been owned by an affiliate of Halifax Media Holdings of Little Rock, Arkansas, which sold the newspaper to New Media Investment Group and Gatehouse Media in early 2015. The New York Times Co., a previous owner of the newspaper under which the building was constructed for about $18 million, sold the property for $17.4 million in 2012. It was designed by the Miami firm Arquitectonica with almost 2,000 panes of glass.

“It’s a terrific addition for that end of Main Street,”′ said Ian Black, whose commercial real estate firm’s Steve Horn represented the seller along with JLL’s Brent Miller.

The Sarasota Memorial Health Care System, an 839-bed regional medical center, is among the largest public health systems in Florida. It has more than 5,000 staff and 900 physicians, primarily in its main campus at 1700 S. Tamiami Trail.

Its growth has created space challenges. For example, the perioperative suite and cardiology department at Sarasota Memorial Hospital are hampered by their current space and lack of room to expand, hospital staff said in its recommendation to buy the building in October.

Under the plan, Sarasota Memorial plans to consolidate administrative functions that now are at four locations. Supply-chain management, corporate compliance, the First Physicians Group central business office and clinical business systems would be moved from the main campus.

The “revenue cycle” operation, which includes patient financial services and registration, will move from Hillview Street. The corporate finance department will relocate from Bee Ridge Road, and physician IT services will come from the Doctors Gardens building south of the hospital across Arlington Street.

Source: Herald-Tribune

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Rendina Sells Off 10-Building Medical Office Portfolio

JLL’s Capital Markets, Healthcare experts arranged the sale of a 10-building medical office portfolio on behalf of Jupiter, Florida-based developer Rendina Healthcare Real Estate. The buyer was Everest Healthcare Properties LLC, a healthcare real estate investment manager based in Scottsdale, Arizona.

Managing Directors Mindy Berman and Daniel Turley led the team handling the portfolio sale.

“This is a well-managed portfolio which attracted investors because of its scale, geographical diversity and high-quality assets. Eight of the 10 properties are on medical campuses aligned with market leading health systems,” said Berman.

The portfolio totals over 480,000 square feet and Rendina, which has developed more than 7.75 million square feet of healthcare real estate, had recently completed more than $5.5 million in improvements to the various assets. The portfolio is 83 percent leased and more than a third of the tenants are aligned with hospital systems. Rendina will continue to provide property management and leasing services following the acquisition.

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