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Orlando Health Buys More Land In Central Florida

Tuesday, August 13, 2019 5:56 PM | Anonymous

Orlando Health once again is picking up land in Osceola County.

The $3.8 billion nonprofit health care provider closed on the purchase of 6.3 acres next to its $32 million, 60,000-square-foot Orlando Health Emergency Department & Medical Pavilion – Osceola County at 1001 E. Osceola Parkway in Kissimmee.

Orlando Health bought the land for $5.2 million from Orlando-based Deerfield Land Corp. and Tupperware Services Inc., entities related to Kissimmee-based Tupperware Brands Corp. (NYSE: TUP)

“Osceola County’s response to the existing Orlando Health emergency room and medical pavilion has been tremendous," Orlando Health spokeswoman Kena Lewis told Orlando Business Journal. "Orlando Health will use this additional land acquisition to serve the future health care needs of the community."

Orlando Health did not reveal how it will use the land. Its Osceola emergency room and pavilion's future phase 2 eventually will include a second 60,000-square-foot medical pavilion, which typically includes medical office space. It's possible the land eventually may include a patient tower, although that hasn't been mentioned yet.

Tupperware Services previously sold Orlando Health 14.3 acres for the emergency department in 2017 for $5.42 million.

The health care company has been buying up other land in Osceola, as well, closing on the purchase of a 28-acre parcel at 8011 Osceola Polk Line Road in Davenport near the Polk County line in May for $14.4 million. That Orlando Health property will be part of a 108-acre, mixed-use development called Reunion Village. That project, owned by Encore Capital Management, currently is seeking hotels, shops, a grocery store and other concepts to be part of a 200,000-square-foot retail center, according to a LandQwest listing on the proposed development.

Meanwhile, Orlando Health has locked up several other Central Florida properties in the past year:

  • On Nov. 19, it paid $1.64 million for a roughly 1-acre parcel with an existing 18,000-square-foot office building at 1300 S. Division Ave., north of Kaley Avenue near its Orlando Regional Medical Center Campus.
  • On May 25, it acquired a two-story, 72,000-square-foot building at 1000 W. Broadway St. in Oviedo from Oviedo Medical Properties LLC for $22.2 million, which it will use as medical office space.
  • On Sept. 28, it bought a 1.5-acre parcel with a 30,000-square-foot warehouse at 1402 Sligh Blvd. for $2.03 million in downtown Orlando, which it previously leased from the seller, rail company CSX Corp. (Nasdaq: CSX).
  • On June 18, it bought a vacant half-acre lot at 121 W. Copeland Drive in downtown Orlando for $833,500.
  • Also in June, it purchased 15.13 vacant acres on the northeast corner of Dowden Road and Randal Park Boulevard in the Lake Nona area for roughly $9.9 million, where it will build a $140 million-$160 million hospital that already has gotten state approval.
  • On Dec. 14, it bought 51 acres of former grazing land at 5401 Effie Drive in Apopka for $1.48 million from Orlando Beltway Associates Plymouth Sorrento LLC.

Orlando Health's eight Central Florida hospitals have a total of 3,300-plus beds. It has the area’s only Level One Trauma Centers for adults and children, and is a teaching hospital system. Its hospitals are: Orlando Regional Medical Center, Dr. P. Phillips Hospital, South Seminole Hospital, Health Central Hospital, the Arnold Palmer Hospital for Children, Winnie Palmer Hospital for Women & Babies, South Lake Hospital and St. Cloud Regional Medical Center. It also has a partnership with Care Spot with 11 urgent care centers in the region. Orlando Health has several cancer centers, freestanding ERs and other medical facilities. It is one of the region's largest employers, with 23,000 workers.


Source:  OBJ



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