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AdventHealth paid $4.25 million last week for a 10-acre site on Osceola Parkway at Ball Park Road in the City of Kissimmee for new medical offices.
The healthcare company has recently opened a Health Park on U.S. 192 at Partin Settlement with a Free Standing Emergency Department (FSED) and has added on to its hospitals in Kissimmee and Celebration. The company has had a pre-application meeting with city planning officials but has not submitted formal plans for the site.
Elliott Jamison represented the buyer on the transaction but said he was not authorized to speak about their plans. The property is 2.5 miles west of the Orlando Health Tupperware campus on Osceola Parkway, which includes a FSED and medical offices.
The vacant parcel, which is next to a Publix-anchored shopping center, is part of the Flora Ridge Mixed-Use Planned Unit Development. It was one of the last parcels to sell, according to Colliers’ David Calcanis, who represented the seller, Kelley Properties.
“This was the last of the larger parcels,” Calcanis told GrowthSpotter. “They still have four remaining parcels and a couple of little remnant pieces, which we’re trying to donate to the city or school board.”
Kelley Properties previously sold 85 acres to Ocean Bleu Group, which has a groundbreaking planned for Wednesday on its Square at Osceola Parkway power center.
The PUD is entitled for 320,000 square feet of office, 521,000 square feet of retail, 300 hotel rooms and 400 multifamily units. Ocean Bleu CEO Bryan Schultz had previously put the 10-acre AdventHealth site under contract but allowed the contract to lapse. He had considered including a medical office component in The Square at Osceola Parkway but elected to go with retail, anchored by a new Floor & Decor for the shopping center.
Schultz is selling the 19-acre multifamily parcel to The Dinerstein Companies, which is going through permit approvals for the luxury apartment community.
The buildings will be 3-story walk-ups with surface parking and some detached garages. There’s also a pool and clubhouse that will include a fitness center, parcel pending lockers and a leasing office.
Kelley Properties also sold 43.5 acres on John Young Parkway in Flora Ridge to Chicago-based First Industrial Realty Trust for a speculative industrial park.
Epoch Residential purchased 74 acres in Flora Ridge in 2019 and recently sold the first of its three approved multifamily communities. Epoch President Justin Sand told GrowthSpotter he’s getting ready to submit plans for the final phase.
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 Facebook, Twitter and LinkedIn.