Adventist buys up vacant acreage around Altamonte Springs campus for $15M
By Mike Salinero
Sep 06, 2016 at 6:15 PM
Adventist Health System, parent company of Florida Hospitals, moved in the last week to dramatically expand its land holdings around its 27-acre corporate campus in Altamonte Springs, according to deeds filed in Seminole County.
The company purchased nearly 47 acres on Gateway Drive east of Inspiration Avenue for $10.36 million, according to a deed filed last Wednesday. The seller was an affiliate of Charlotte, N.C.-based Crescent Communities.
On Thursday, the healthcare company bought a small shopping plaza, Crossroads at Forest City Cove that fronts S.R. 434 for $5.4 million. Tenants include Neptune Society Cremation Services, Tijuana Flats corporate office and Blush Day Spa. The seller was M 434 LLC, headed by Patrick J. Knight of Maitland, a principal in Knight Family Keys LLC, a retail construction firm.
Adventist Health System did not return calls for comment on Tuesday, but Altamonte Springs city manager Frank Martz told GrowthSpotter the company has told him they have no immediate plans to build on the nearly 50 acres they acquired last week.
"The land next door was for sale so they bought it," he said Tuesday. "They're expanding their campus and they wanted to control the land around it. They want to control what eventually goes beside them."
Adventist filed plans in July with the city and the St. Johns River Water Management District to build a new five-story office building and parking deck in the northeast corner of the campus, at the intersection of Gateway Drive and Inspiration Avenue.
The company hopes to break ground by the end of this year and occupy the building in early 2018. The new building will house enterprise resource planning, shared services and the corporate human resources and supply chain departments.
The new office building will mark the third phase of the health care company's centralization plan. The corporate headquarters building was completed in 2011, followed in 2013 by the six-story Solutions Center, which houses the company's information technology department.
"When they build out their third building on their campus, it will be 2,475 jobs, of which more than 1,200 are new to Central Florida," Martz said. "We are so proud to have them as partners."
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