Developer Plans Medical Offices Near Future Cleveland Clinic Site In Palm Beach County

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A property down the street from a future Cleveland Clinic Florida medical facility in Palm Beach County could be developed as medical offices.

Everett “Rett” Waldman, head of Wellington-based Folkstone Properties, said the Quartet Medical Offices would be the latest in a series of for-sale medical offices he’s been building in the area.

“There are many medical providers seeking to own their spaces because it’s less expensive than renting,” Waldman said.

Everett “Rett” Waldman, head of Folkstone Properties, wants to build medical offices at 8475 Lake Worth Road in Palm Beach County.

The 1.61-acre site, at 8475 Lake Worth Road, is owned by 8475LWR LLC, controlled by Waldman. Located at the northeast corner of Blanchette Trail, the property has a single-family home. The proposed land use amendment could change the site from “single-family residential” to “commercial – medical office.” This would allow up to 24,472 square feet, but Waldman said he intends to construct four medical office buildings totaling 10,000 square feet.

A few blocks to the west, Cleveland Clinic Florida has plans for a major medical center on a 35.4-acre site. There’s also a new community by Pulte Homes nearby.

“I’m selling the opportunity to be at the corridor next to Cleveland Clinic and 1,600 homes,” Waldman said. “I’m sure Cleveland Clinic will have a ton of on campus office space that doctors with privileges there will lease from them. I want the doctors who don’t need privileges at the hospital, but want to be in the medical corridor.”

The developer is also seeking a waiver to sell the four buildings “fee simple,” which usually isn’t allowed on parcels less than 3 acres. Waldman recently built and either sold or rented seven medical office buildings around Wellington and Royal Palm Beach.

“Medical office users like buildings between 2,500 to 3,500 square feet that they don’t have to share,” Waldman said.

Brian Terry of Insite Studio represents the developer in the application, which will require County Commission approval. A specific site plan would be required at a later date.

The developer acquired the property for $450,000 in 2018.

 

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New Multi-Tenant, On-Campus Medical Office Building Breaks Ground In Cedar Park, Texas

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MedCore Partners, a national healthcare real estate development and brokerage firm headquartered in Dallas, TX, just announced the groundbreaking of its latest development, “Hill Country Medical Plaza.”

Hill County Medical Plaza

Located at the entrance of Cedar Park Regional Medical Center at Medical Parkway and C-bar Ranch Trail in Cedar Park, Texas, this state-of-the-art, two-story, 29,600 square foot Class A medical office building (MOB) will house complementary services to those offered next door in the 93-bed hospital.

Thus far the project is already 77% pre-leased to tenants including Texas Digestive Disease Consultants, Hill Country Endoscopy Center, and a compounding pharmacy. This mix of specialties will work to create an extensive network of referrals and increased convenience for patients in this market.

Designed by Felder Group Architects, the project is scheduled to be completed in October of 2020 and is being built by IE2 Construction, Inc.  MedCore Partners is a full-service real estate company catering exclusively to the healthcare industry.

 

Source: yahoo! finance

Baptist Health Buys Land For A Medical Massive Campus In St. Johns County

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Baptist Health purchased 11.3 vacant acres in St. Johns County on March 23 for $5.7 million and abuts a 23.3-acre parcel Baptist bought for $5.8 million in July.

The use allowances for Baptist‘s newest property restrict construction to a 150,000-square-foot medical campus, but a February request to change the property’s allowances would let Baptist build a hospital twice that size.

 

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