xml:space="preserve">
xml:space="preserve">
Advertisement

AdventHealth pays $21M for hospital site in Minneola

Hills of Minneola developer Kevin Skorman entertained offers from outside healthcare firms for the desirable hospital site just off the Floridas Turnpike Interchange, but in the end he decided to keep it local and sell to AdventHealth.

“Given their Central Florida market presence, strong reputation and willingness to expedite a closing, AdventHealth was our top pick for this property,” Skorman told GrowthSpotter.

Advertisement

Skorman Development’s Minneola Land LLC agreed to a $700,000 per acre sale price for the fully entitled site and closed the $21 million sale on Oct. 29. AdventHealth confirmed it plans to build a full-service hospital at the Hancock Road site.

AdventHealth purchased 30 acres of this 55-acre medical campus, shown in light blue, in the Hills of Minneola.
AdventHealth purchased 30 acres of this 55-acre medical campus, shown in light blue, in the Hills of Minneola. (City of Minneola)

“We are committed to providing convenient care close to home, wherever consumers live in Central Florida,” said Kari Vargas, market CEO for West Orange and South Lake counties. “With a fast-growing population and lack of providers, we look forward to offering the residents of South Lake a whole range of exceptional, compassionate care.”

Advertisement

Land broker Brad Parker with Parker Consulting International represented the seller. The buyer’s broker was Aaron Gray with JLL.

Skorman Development still controls over 25 acres of land adjacent to AdventHealth’s site which is fully entitled for a range of medical and office uses.  “Given our background in medical office projects, we intend to develop the remaining medical acreage ourselves,” he said. “The ability to go straight to permitting on roughly 400,000 square feet of medical, hotel and office uses is incredibly advantageous and has already drawn interest from a number of tenants.”

The company has a long history with the project. Skorman bought the 30-acre multifamily site just north of Minneola High School in 2017 and last year completed the 297-unit Minneola Hills apartment community — the first of two luxury apartment complexes it will build in the Hills of Minneola. Construction plans for the second community are being finalized, and construction should be underway soon.

Skorman purchased the commercial and industrial portions of the master-planned community in August for $29 million. In addition to the medical campus, the developer owns 70 acres on Hancock Road with commercial and retail entitlements. The retail will be developed in partnership with Miami-based Berkowitz Development Group.

“We are designing out the commercial developments now and working with large national retailers on suitable site plans,” Skorman said. “Given the scope of the commercial entitlements and the thousands of nearby homes recently built or under construction, having a neighbor like AdventHealth only increases the attractiveness of this property for retailers.”

Meritage Homes and Starlight Homes are both currently building in Hills of Minneola, and Pulte’s Del Webb Communities will build an 846-home active adult community at Hancock Road and County Road 561-A.

Skorman said he looks forward to making the Hills of Minneola, first envisioned by author and philanthropist F. Browne Gregg, a reality.

With the Minneola purchase, AdventHealth is further expanding its footprint in the fast-growing area. In nearby Clermont, a 24-bed emergency department is scheduled to open later this month, followed by comprehensive outpatient services coming in January with the opening of the  Clermont health park.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @byLauraKinsler. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement