Highlighted in blue are the two parcels bought by Adventist Health/Florida Hospital last week at the corner of Lake Nona Boulevard and Narcoossee Road, and directly across the street (red outline) is land it bought in December 2016.
Highlighted in blue are the two parcels bought by Adventist Health/Florida Hospital last week at the corner of Lake Nona Boulevard and Narcoossee Road, and directly across the street (red outline) is land it bought in December 2016. (Orange County Property Appraiser / staff edit)

Adventist Health System, parent company of Florida Hospital, paid $8.975 million on Friday for 14.96 acres on the eastern edge of Lake Nona, adding to 12 developable acres adjacent it owns for a future hospital site.

Located on the northern and southern sides of Lake Nona Boulevard, on the western side of the Narcoossee Road intersection, the site lies southeast of the Lake Nona Golf and Country Club and east of KMPG's new corporate training center.

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The seller was an affiliate of Tavistock Group. Officials with Adventist did not respond to requests for comment on Monday.

The land purchase comes one year after Adventist bought a 67.24-acre site in December 2016 directly east of the intersection, of which about 12 acres were considered developable at the time.

Adventist Health pays $8M for 12 developable acres at Lake Nona entry

Insight on the property's history, and what kind of profit the sellers turned on it after 24 years.

Florida Hospital already has a notable presence in Lake Nona with its family and sports medicine center known as Health Park-Lake Nona, and shares a 100,000-square-foot medical office building with the UCF College of Medicine known as Gateway Lake Nona, where it provides primary and specialty care.

The land sale deed included some use restrictions for up to 75 years, limiting Adventist to develop the property solely for up to 145,000 square feet of conditioned area in multiple medical office buildings, an ambulatory surgery center, emergency department, counseling services, health and wellness services (ex: chiropractic, physical therapy and rehabilitation), radiology services and related support departments.

But ancillary uses would also be allowed that are intended to directly support the buyer's "CREATION Health" mission focused on health and wellness, and those could include a variety of retail, like casual dining, full-service and quick-service restaurants, pharmacy, vitamin and nutritional supplement retail sales, medical device sales, fitness equipment sales, all not to exceed 3,000 square feet of interior building area as individual uses, or 30,000 square feet overall.

Tavistock notes in its use restrictions that it will consider amending the Permitted Use in the future to allow additional uses that are consistent with the "logical evolution" of clinical care and wellness services.

The seller helped pave the way for Adventist by filing a Planned Development zoning amendment in recent months for the northern of the two parcels that were sold.

It changes the land use designation from residential to "Village Center," which allows uses that include medical office, hospital, retail and more. The PD amendment was approved by Orlando's City Council on Dec. 11, and should be adopted on Jan. 8.

No new development plans have been filed with the city or Orange County for either of the sites.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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