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Central Florida Medical Office ReportCushman & Wakefield Healthcare Practice Group

Welcome to the third edition of Cushman & Wakefield’s Central Florida Medical Office Report. This comprehensive report covers all space in the market dedicated to outpatient medical services, including owner-occupied and multi-tenant medical office buildings, community clinics, imaging centers, ambulatory surgery centers and specialized outpatient treatment facilities. If a property caters to both office and medical users, it must have at least half existing medical tenancy to be included in the inventory.

This comprehensive report will be published annually, with a basic market update published quarterly. It is prepared by Anne Spencer and Cushman & Wakefield’s Healthcare Practice Group. She brings over 10 years experience to the healthcare advisory platform.

Cushman & Wakefield’s Healthcare Practice Group is a national platform of real estate professionals with a focus on the sales, leasing, valuation, management and financing of healthcare properties around the US including: medical office, assisted living, skilled nursing and hospital facilities.

Medical Office ReportCUSHMAN & WAKEFIELD

Cushman & Wakefield of Florida, Inc. 20 North Orange Avenue Suite 300Orlando, FL 32801cushmanwakefield.comcushwakehealthcare.com

Anne SpencerDirector [email protected] +1 407 541 4434floridamedicaloffice.com

Cushman & Wakefield 1

Table of ContentsConstruction & Investment Activity

Hospital MapHospital Clusters

Orlando HealthAdventist Healthcare

Central Florida Health AllianceSt. Cloud Regional Medical Center

HCAMedical City at Lake Nona

24661221222327

2

Construction ActivityWith continued expansion and new development by hospital groups, MOB construction in 2016 is expected to pick up pace.

Orlando Health:

• Spring Lake Health & Living Campus is being developed by Dr. Phillips as a senior living and healthcare community. The senior housing component will contain 180 beds and operated by Harbor Retirement Associates. The campus will also have a 60,000 SF MOB called the Orlando Health Medical Pavilion at Spring Lake. The project is on 26 acres in the Dr Phillips area of Orlando. The MOB will be occupied by Physicians Associates and Orlando Health Physicians. Expected delivery of the MOB is Fall 2016.

• Health Central is expanding by adding a 5-story tower, 100 emergency beds and 40 private patient beds. Expected completion is in Fall 2016.

• Health Central is under construction of a MOB called Summerport in Windermere at the intersection of County Road 535 and West Lake Butler Road. The 60,000 SF building will house physicians from Orlando Health. Expected completion is late summer 2016.

Adventist Health:

• Florida Hospital planning to open an 18,000 SF freestanding ER in Lake Mary, which will have 24 beds.

• The new Florida Hospital for Women opened in January 2016. Located on the main Florida Hospital campus near Downtown Orlando, the 420,000 SF facility is 12-stories and will have 330 beds. The hospital will offer general and high-risk obstetrics, gynecology, a level-three NICU, the region’s only milk depot, oncology, surgery, breast care, cardiovascular care, and wellness education.

• Florida Hospital’s Winter Garden facility is expected to open this year. It has no overnight beds but the 97,000 SF facility will have an emergency department, acute care services, on-site imaging, pharmacy, and outpatient surgical services.

• Florida Hospital’s Winter Park expansion will begin in spring 2016. The new construction will add new patient rooms to the emergency department, along with a new 177,000 SF 5-story patient tower that will house 97 beds.

HCA:

• HCA has broken ground on a new hospital in Oviedo, which will be a 64-bed acute care facility opening Jan 2017. There is also a 40,000 SF MOB currently under construction that will deliver first in July 2016.

• Central Florida Regional Hospital, based in Sanford, FL is building a freestanding ER in Deltona. The 10,500 SF, 12-bed facility will come online by the end of 2016.

• In November 2015, Poinciana Hospital had a ribbon cutting ceremony for their 2-floor expansion at their existing facility. The additional floors added 46 patient beds and 40,000 SF to the relatively new hospital.

Investment ActivityMOB sales in Central Florida have been limited due to a lack of investment inventory being marketed. The majority of MOB sales have occurred in smaller single tenant buildings or for medical condos acquired by owner-users. Two investment medical sales that have occurred:

• Studio Plaza, 5979 and 6001 Vineland Road, 2-builidng portfolio sold for $5,900,000

• 1210 East Plant Street in Winter Garden, purchased by Community Healthcare Trust for $5,405,000

Leasing ActivityOn the leasing side, direct vacancy in the Orlando MSA has steadily decreased since 2011, falling 2.8 percentage points during the five year period to 8.5%. The reason for the tightening in the market is due to the decrease in rental rates, which have slowly declined since 2011, dropping 3.5% to $19.14 PSF/YR. However, as the market continues to tighten, rental rates should stabilize in the near term. Consequently, there has been no significant MOB construction independent of a hospital system since 2009, which is expected to change in the next year with an estimated 100,000 SF under construction to begin 2016. MOB market fundamentals have been under pressure over the past five years as the healthcare industry remains uncertain as to the effect of the implementation the Affordable Care Act will have on real estate needs going forward.

Featured Listing

Oviedo Medical Office Building

• 40,000 SF class A medical office building

• On the campus of HCA’s newest hospital, Oviedo Medical Center

• Hospital will have 64 acute-care beds and feature a Mother-Baby Unit, Inpatient and Outpatient surgery, 24/7 emergency care, cardiac catheterization lab, cardiopulmonary services, pharmacy, and diagnostic imaging.

• MOB delivering July 2016

• Hospital delivering January 2017

• Cushman & Wakefield is the exclusive leasing agent for the Oviedo MOB.

Market Commentary


Market/SubmarketTotal

Inventory

Direct Vacancy

Rate

Overall Vacancy

Rate

Overall Net Absorption Leasing Activity Full Service Gross Wt. Avg. Rent

QTR YTD QTR YTD Direct Sublet Overall

Central Orange 4,220,701 5.2% 5.3% 9,647 57,926 18,810 76,218 $21.02 $18.91 $20.98

East Orange 608,331 11.1% 11.5% 6,608 18,837 2,500 18,763 $23.07 $11.65 $22.90

West Orange 1,376,302 8.8% 8.8% (8,522) (6,311) 10,022 36,155 $22.17 N/A $22.17

Orange (Total) 6,205,334 6.2% 6.3% 7,733 70,452 31,332 131,136 $21.64 $15.28 $21.65

Seminole 2,216,724 10.5% 10.7% 11,417 58,394 30,247 122,573 $17.59 $18.73 $17.60

Osceola 1,245,485 14.8% 14.8% (3,314) 21,167 19,967 33,274 $23.39 N/A $23.39

Lake 991,401 9.8% 9.8% (3,790) 12,403 1,184 10,857 $13.92 N/A $13.92

Total 10,658,944 8.5% 8.6% 12,046 162,416 82,730 297,840 $19.14 $17.01 $19.14

On Campus 3,767,442 8.0% 8.0% (8,995) 25,474 38,437 101,526 $17.94 $20.00 $17.94

Off Campus 6,891,502 8.7% 8.9% 21,041 136,942 44,293 196,314 $20.44 $17.96 $20.42

Total 10,658,944 8.5% 8.6% 12,046 162,416 82,730 297,840 $19.14 $17.01 $19.14

Market Statistics

STATS ON THE GO

4Q12 3Q13 4Q13 Y-O-Y CHANGE

12-MONTH FORECAST

Overall Vacancy 10.5% 9.1% 8.6% 1.5 pp q

Direct Asking Rents

(PSF/MO) $19.88 $20.87 $19.14 $(0.74) q

Gross Activity (SF) 40,559 97,133 82,730 42,171 o

Under Construction 28,000 - 100,000 72,000 p

MEDICAL OFFICE INVENTORY by Submarket

Central Orange

39%

East Orange6%

West Orange13%

Seminole21%

Osceola12%

Lake9%

ON & OFF CAMPUS CONSTRUCTION DELIVERIES

-

20,000

40,000

60,000

80,000

100,000

120,000

2010 2011 2012 2013 2014 2015 UC

Off Campus On Campus

VACANCY VS. ABSORPTION Annual SF

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

2009 2010 2011 2012 2013 2014 2015

Vacancy vs. Absorption

Vacancy Net Absorption

Cushm

an & W

akefield

4C

ushman &

Wakefi

eld 5

FLORIDA COUNTYWIDE HOSPITAL LOCATOR MAP

Cushman & Wakefield of Florida, Inc. 20 North Orange Avenue Suite 300 Orlando, FL 32801

SEMINOLECOUNTY

OSCEOLACOUNTY

ORANGECOUNTY

LAKECOUNTY

4

4

4

Arnold Palmer Hospital for Children& WomenOrlando Regional Medical CenterWinnie Palmer Hospital for Women & BabiesUF Health Cancer Center OrlandoDr. P. Phillips HospitalSouth Seminole HospitalSouth Lake HospitalHealth Central Hospital

6

3

8

5

2

7

4

1

6

3

8

5

2

7

4

1 Florida Hospital OrlandoFlorida Hospital AltamonteFlorida Hospital ApopkaFlorida Hospital Celebration HealthFlorida Hospital East OrlandoFlorida Hospital KissimmeeFlorida Hospital WatermanWinter Park Memorial HospitalFlorida Hospital Winter Garden

Leesburg Regional Medical Center1

Leesburg

Lake Mary

Orlando

West Submarket

Kissimmee

6

3

8

5

2

7

4

1

11

6

87

4 23 1

5

1

Central Florida Regional HospitalOsceola Regional Medical CenterPoinciana Medical CenterHunter’s Creek ERCOviedo Medical Center

UCF Health Sciences CampusBurnett Biomedical Sciences CampusSanford-Burnham at Lake NonaNemoursUF Research & Academic CenterVA Medical CenterMD Anderson Orlando Cancer Research Institute

1

Medical City

3

2

4

6

5

7

13

4

567 2

2

2

Central Submarket

East Submarket

St. Cloud Regional Medical Center

1

9

9

3

4

5

3

4

5

1

Anne Spencer Director [email protected]

+1 407 541 4413

6

W. Columbia Street

Orange A

venue

Kaley StreetD

ivision Avenue

E. Gore Street

4

ORMC - Orlando 1414 Kuhl Avenue Orlando, FL 32806 • 804 beds

• Full service medical/surgical facility

• Orlando Health hospital system

• Private, non-profit, community-based health system

• Central Florida’s only level one trauma center www.orlandohealth.com/orlandoregionalmedicalcenter

UF Health Cancer Center 1400 S. Orange Avenue, Orlando, FL 32806 • 60 beds

• 10-story comprehensive multidisciplinary cancer center www.orlandohealth.com/mdanderson

Arnold Palmer Hospital For Children 92 W. Miller Street, Orlando, FL 32806 • 158 Beds

• Pediatrics hospital


• Only Central Florida hospital with a dedicated pediatric emergency and trauma department

• Home of Congenital Heart Institute www.orlandohealth.com/arnoldpalmerhospital

Winnie Palmer Hospital Women & Babies 83 W. Miller Street, Orlando, FL 32806 • 285 beds

• Third largest birthing center in the U.S.

• Complete ob/gyn care

• Fourth largest level IV NICU in the US www.orlandohealth.com/winniepalmerhospital

1 | ORLANDO HEALTHORMC | UF Health Cancer Center

63

4

1 5

7

8

9

10

2

11

1213


# Building Name Building Address SF Occupancy Rate Notes

3 93 W. Columbia St. 93 W. Columbia St., Orlando, FL 52,908 100.00% NA Owned by Orlando Health

4 Columbia Street Medical Center 21 W. Columbia St., Orlando ,FL 32,665 100.00% NA Owned by Orlando Health

5 1315 S. Orange Ave. 1315 S. Orange Ave., Orlando, FL 30,000 100.00% NA

6 89 Copeland Dr. 89 Copeland Dr., Orlando, FL 28,804 100.00% NA Owned by Orlando Health

7 Underwood 77 Medical Building 77 W. Underwood St., Orlando, FL 18,500 100.00% NA

8 Orlando Professional Center - Building 1 1720 S. Orange Ave., Orlando, FL 18,297 100.00% NA

9 1300 S. Kuhl Ave. 1300 S. Kuhl Ave., Orlando, FL 14,469 100.00% NA Owned by Orlando Health

10Richard Hornick, MD Medical Education Building

86 W. Underwood St., Orlando, FL 14,322 100.00% NA Owned by Orlando Health

11 Thorsen Building 1414 Kuhl Ave. Orlando, FL 53,443 100.00% NA Owned by Orlando Health

12 1222 S. Orange Ave. 1222 S. Orange Ave., Orlando, FL 284,169 100.00% NA Owned by Orlando Health

13 1725 Kuhl Ave. 1725 Kuhl Ave., Orlando, FL 27,948 100.00% NA

2. ORLANDO PROFESSIONAL CENTER - BUILDING 2 22 W. Lake Beauty Dr., Orlando, FL 32806

TOTAL SF% LEASEDASKING RENT NOTES

30,42790.60%$22.00 MGThree suites available; Holladay Properties is the listing agent.

1. ORLANDO MEDICAL PLAZA - BUILDING 1000 1405 S. Orange Ave., Orlando, FL 32806


38,71583.00%$16.00 NNNUp to 6,600 SF available; RJ King is the listing agent.

On Campus Medical Office Buildings

8


3 Physician Associates Central Florida 7472 Docs Grove Cir., Orlando, FL 15,411 100.00% NA Owner occupied

4 SW Orlando Family Medicine 7400 Docs Grove Cir., Orlando, FL 7,876 100.00% NA Owner occupied

5Lake View Medical Park - Lakeview GI Center

7448 Docs Grove Cir., Orlando, FL 10,494 100.00% NA Medical office condos

6 Sand Lake Imaging 9350 Turkey Lake Rd., Orlando, FL 14,892 100.00% NA

7 Orlando Heart Center 7236 Stonerock Cir., Orlando, FL 9,851 100.00% NA Owner occupied

8 Sand Lake Medical Park 7301 Stonerock Cir., Orlando, FL 9,281 100.00% NA Sand Lake Cancer Center.

9Orofacial & Dental Implant Surgery Associates

7352 Stonerock Cir., Orlando, FL 5,725 66.80% $21.00 NNN 1,700 SF available; RJ King is agent

10Sand Lake Medical Park - Women's Care Florida

7200 Stonerock Cir., Orlando, FL 7,209 100.00% NA Owner occupied

11 Sand Lake Physicians Building 9430 Turkey Lake Rd., Orlando, FL 28,878 100.00% NA Medical office condos

12 Sand Lake Surgery Center

7477 Sand Lake Commons Blvd., Orlando, FL 16,976 100.00% NA

W. Sandlake Road

Martin Anderson Beachline ExpresswayInternational D

r ive Universal Boulevard

4Dr. P. Phillips Hospital 9400 Turkey Lake Road, Orlando, FL 32819

• 237 beds




www.orlandohealth.com/drpphillipshospital

16

3

2

5

78

4

12

119

10

1 | ORLANDO HEALTHDr. Phillips Hospital

1. SAND LAKE COMMONS - MEDPLEX B 7350 Sand Lake Commons Blvd., Orlando, FL 32819


66,00081.80%$17.00-20.00 NNNMedical office condos

2. SAND LAKE COMMONS - MEDPLEX A 7300 Sand Lake Commons Blvd., Orlando, FL 32819


66,00081.10%$17.00 NNNMedical office condos; Health America Realty is agent.


E. State Road 434 434434

427

S. Ronald Reagan Boulevard

3

4

1

2

5

6


3 451 Milwee St. 451 Milwee St., Longwood, FL 11,899 100.00% NA

4 450 W. S.R. 434 450 W. S.R. 434, Longwood, FL 19,605 100.00% NA

5 ProMed Center 225 W. S.R. 434, Longwood, FL 15,800 100.00% NA

6 451-455 W. Warren Ave.

451-455 W. Warren Ave., Longwood, FL 23,139 49.80% $13.00 NNN Holladay Properties, agent

South Seminole Hospital 555 West State Road 434, Longwood, FL 32750

• 206 beds



• Home to Orlando Health’s Behavioral Healthcare


www.orlandohealth.com/southseminolehospital

1 | ORLANDO HEALTHSouth Seminole Hospital

1. SOUTH SEMINOLE MEDICAL OFFICE 515 W. S.R. 434, Longwood, FL 32750


54,12585.30%$22.00 MGHolladay Properties, agent.

2. SOUTH SEMINOLE MEDICAL PLAZA 521 W. S.R. 434, Longwood, FL 32750


44,167100.00%$18.00 MGMedical office condos; Holladay properties, agent.

10

1 | ORLANDO HEALTHSouth Lake Hospital


3 1381 Citrus Tower Blvd.

1381 Citrus Tower Blvd., Clermont, FL 8,120 100.00% NA

4 South Lake Medical Arts Center

805 Oakley Seaver Dr., Clermont, FL 5,635 100.00% NA Department of

Veterans Affairs

5 South Lake Medical Arts Center

871 Oakley Seaver Dr., Clermont, FL 6,000 100.00% NA Clermont Radiology;

owner occupied

6 South Lake Surgery Center

1800 Oakley Seaver Dr., Clermont, FL 6,029 100.00% NA

South Lake Surgery Center; owned by South Lake Hospital

7 Skytop Professional Plaza

1804 Oakley Seaver Dr., Clermont, FL 20,480 100.00% NA Medical office condos

8 2020 Oakley Seaver Dr.

2020 Oakley Seaver Dr., Clermont, FL 8,417 100.00% NA

9 2040 Oakley Seaver Dr.

2040 Oakley Seaver Dr., Clermont, FL 14,000 100.00% NA South Lake

Endoscopy Center

Orlando Health South Lake Hospital 1900 Don Wickham Drive, Clermont, FL 34711

• 122 beds

• Full service medical facility


• Home to the National Training Center


www.southlakehospital.com

1. NTC MEDICAL PLAZA 1361 Citrus Tower Blvd., Clermont, FL 34711


20,700100.00%NAUp to 15,000 available for sub-lease. Lee & Associates, agent.

2. SOUTH LAKE MEDICAL PLAZA 1920 Don Wickham Dr., Clermont, FL 34711


67,02381.00%$10.00 NNNLee & Associates, agent.

Oakley Seaver Drive

27

Hook Street

Citrus Tower Boulevard

50

6

4

1

2

3

5

987


W. Colonial Drive

Maguire Road

Old Winter Garden Road

Florida’s Turnpike

408

50

8

3

11

7

2

1

5 4

7

6 10

9

1 | ORLANDO HEALTHHealth Central Hospital


3 1161 Blackwood Office Strip

1161-1193 Blackwood Ave., Ocoee, FL 12,365 100.00% NA

4 West Orange Dental Group

1201-1291 Blackwood Ave., Ocoee, FL 10,494 100.00% NA

5 Clermont - Ocoee Pediatrics 1551 Boren Dr., Ocoee, FL 8,056 100.00% NA

6 Lake Bennett Medical Center II 1128-1148 Kelton Ave., Ocoee, FL 22,804 100.00% NA 1,740 SF available. Charles

Rutenberg, agent

7 Associates in Dermatology

530-534 Ocoee Commerce Pkwy., Ocoee, FL 5,168 100.00% NA

8 2704 Rew Cir. 2704 Rew Cir., Ocoee, FL 7,038 100.00% NA

9 2706 Rew Cir. 2706 Rew Cir., Ocoee, FL 8,700 100.00% NA

10 1111 Blackwood Ave 1111 Blackwood Ave, Ocoee, FL 16,283 100.00% NA Physicians Associates

11 Lake Bennett Medical Center 1151 Blackwood Ave., Ocoee, FL 14,840 83.20% NA Medical office condos

Health Central Hospital 10000 West Colonial Drive, Ocoee, FL 34761

• 171 beds

• 440,060 square foot, 85-acre medical complex



www.healthcentral.org

2. WEST ORANGE PROFESSIONAL CENTER 10125 W. Colonial Dr., Ocoee, FL 34761


28,00086.40%$18.00-20.00 NNNMultiple medical condos/suites available. Realty Capital, agent.

1. WEST ORANGE PROFESSIONAL CENTER 10131 W. Colonial Dr., Ocoee, FL 34761


20,93286.50%$15.00 NNN2,800 SF available. Realty Capital, agent.

12

2 | ADVENTIST HEALTHFlorida Hospital Orlando


3 Translational Research Institute 301 E. Princeton St., Orlando, FL 51,711 100.00% NA Owned by Adventist Health.

4 Loch Haven Executive 615 E. Princeton St., Orlando, FL 41,844 100.00% NA Owned by Adventist Health.

5 2520 N. Orange Ave. 2520 N. Orange Ave., Orlando, FL 33,044 100.00% NA Owned by Adventist Health.

6 235 E. Princeton St. 235 E. Princeton St., Orlando, FL 28,856 100.00% NAOwned by Adventist Health. Occupied by Florida Radiology.

7 2855 N. Orange Ave. 2855 N. Orange Ave., Orlando, FL 23,814 100.00% NA Owned by Adventist Health.

8 2400 Bedford Rd. 2400 Bedford Rd., Orlando, FL 19,789 100.00% NA Owned by Adventist Health.

9 Scottsdale Campus 2350 Bedford Rd., Orlando, FL 17,911 100.00% NA Owned by Adventist Health.

10 Orlando Medical - Dental Center 2909 N. Orange Ave., Orlando, FL 15,469 80.90% $20.00 -

$22.00 MGTwo suites available directly from building owner.

11 2320 N. Orange Ave. 2320 N. Orange Ave., Orlando, FL 14,087 100.00% NA

12 Arthritis Associates 324 E. Par St., Orlando, FL 6,973 100.00% NA Owner occupied.

Florida Hospital - Orlando 601 E. Rollins Street, Orlando, FL 32803

• 1,177 beds


• Adventist Health hospital system


www.floridahospital.com

1. FLORIDA MEDICAL PLAZA/FH CANCER INSTITUTE 2501 N. Orange Ave., Orlando, FL 32804


180,000100.00%NAMedical office condos

2. HEALTH VILLAGE MEDICAL OFFICE BUILDING 2415 N. Orange Ave., Orlando, FL 32804


113,947100.00%NAOwned by Adventist Health.

12

10

2

5

1

6 78

4

3

9

11

151413

16

E. Princeton Street

Par Street

Mills A

venue

Orange

Avenu

e

Orange A

venue

4

9

1

8

2

11

5

710

12

34

6


4 436

Palm Springs D

rive

Maitland Avenue

2 | ADVENTIST HEALTHFlorida Hospital Altamonte


3 Altamonte Medical Center I

106 Boston Ave., Altamonte Springs, FL 27,577 82.10% $10.00 Full

ServiceFirst Capital Property Group, agent.

4 160 Boston Ave. 160 Boston Ave., Altamonte Springs, FL 25,166 100.00% NA

5 Florida Surgery Center 180 Boston Ave., Altamonte Springs, FL 9,442 100.00% NA Owner occupied.

6 201 Maitland Ave. 201 Maitland Ave., Altamonte Springs, FL 15,000 100.00% NA

7 Atrium III 499 E. Central Pkwy., Altamonte Springs, FL 30,000 100.00% NA Multi-tenant building.

8 Altamonte Medical Center 2

616 E. Altamonte Dr., Altamonte Springs, FL 16,454 66.30%

$10.00 Modified

Gross

First Capital Property Group, agent.

9 Altamonte Medical Plaza

661 E. Altamonte Dr., Altamonte Springs, FL 32,338 100.00% NA Medical office condos.

10 Florida Heart Group 689 E. Altamonte Dr., Altamonte Springs, FL 7,100 100.00% NA Owner occupied.

11 Florida Hospital Lakeview Plaza

701 E. Altamonte Dr., Altamonte Springs, FL 41,348 100.00% NA Owned by Adventist Health

System.

12 Florida Hospital Lakeview Plaza

711 E. Altamonte Dr., Altamonte Springs, FL 68,754 100.00% NA Owned by Adventist Health

System.

13 The Altamonte Forum Center

745 Orienta Ave., Altamonte Springs, FL 56,952 71.70% $15-$17 Plus

Electric Dunhill Properties, agent.

Florida Hospital - Altamonte 601 East Altamonte Drive, Altamonte Springs, FL 32701

• 341 beds




www.floridahospital.com

2. ALTAMONTE CAPITAL CENTER 249 Maitland Ave., Altamonte Springs, FL 32701


26,11882.40%$16.00 Full ServiceLee & Associates, agent

1. ALTAMONTE CAPITAL CENTER 251 Maitland Ave., Altamonte Springs, FL 32701


26,11894.10%$16.50 Full ServiceLee & Associates, agent

9

4

8

5

3

11

1

13

1210

6

2

7

14

2 | ADVENTIST HEALTHFlorida Hospital Apopka


3 200 N. Park Ave. 200 N. Park Ave., Apopka, FL 3,375 100.00% NA

4 Mid-Florida Eye Center 12 S. Park Ave., Apopka, FL 3,387 100.00% NA

5 20 S. Park Ave. 20 S. Park Ave., Apopka, FL 3,500 100.00% NA

6 125 S. Park Ave. 125 S. Park Ave., Apopka, FL 3,283 100.00% NA

Florida Hospital - Apopka 201 N Park Avenue, Apopka, FL 32703

• 50 beds



www.floridahospitalapopka.com

1. 202 N. PARK AVE. 202 N. Park Ave., Apopka, FL 32703


9,600100.00%NA

2. APOPKA MEDICAL PLAZA 203-205 N. Park Ave., Apopka, FL 32703


10,063100.00%NA

S. Park Avenue

441

6

3

4

1

2

5


2 | ADVENTIST HEALTHCelebration Health


3Celebration Health Medical Office Building

400 Celebration Pl., Celebration, FL 80,000 100.00% NA

Celebration Health's Women's Clinic, imaging and medical office. Expected delivery Fall 2013. Owned by Adventist Health.

4 Town Center Celebration 741 Front St., Celebration, FL 20,023 62.10% $25.00 MG 6,300 sf available; Lexin

Realty, agent.

Florida Hospital Celebration Health 400 Celebration Place, Celebration, FL 34747

• 172 beds

• Acute care facility

• Florida Hospital system


www.celebrationhealth.com

1. CELEBRATION MEDICAL OFFICE CENTER 1530 Celebration Blvd., Celebration, FL 34747


90,34949.80%$24.00 NNNSeveral spaces available. Realty Capital, agent.

2. CELEBRATION HEALTH MEDICAL PLAZA 410 Celebration Pl., Celebration, FL 34747


78,320100.00%NAOwned by Duke Realty.

Celebration Boul

evar

d

Celebration Place

W. Irlo Bronson Memorial Highway

Osceola Parkway

Central F

lorid

a Gre

enw

ay

Wor

ld D

rive

Inte

rnat

iona

l Driv

e

Celebratio

n Avenue

4

1

2 3

16

Lake Underhill Road

N. G

oldenrod Road

N. Chickasaw

Trail

East West Expressway

408

1

546

2

3

2 | ADVENTIST HEALTHFlorida Hospital East


3 Lake Underhill Medical Building

7824 Lake Underhill Rd., Orlando, FL 20,836 100.00% NA

4 7806 Lake Underhill Rd.






Florida Hospital East 7727 Lake Underhill Road, Orlando, FL 32822

• 225 beds




www.floridahospitaleast.com

1. LAKE UNDERHILL MEDICAL OFFICE BUILDING 7975 Lake Underhill Rd., Orlando, FL 32822


61,923100.00%NAOwned by Healthcare Trust of America. R.J. King, agent.

2. EAST ORLANDO MEDICAL SURGICAL PLAZA 258 S. Chickasaw Trl., Orlando, FL 32825


59,97059.10%$19.00 NNNOwned by Duke Realty


2 | ADVENTIST HEALTHFlorida Hospital Kissimmee


2 201 Hilda St. 201 Hilda St., Kissimmee, FL 30,000 100.00% NA

3 101 Park Pl. Blvd. 101 Park Pl. Blvd., Kissimmee, FL 7,172 100.00% NA

4 200 Park Pl. Blvd. 200 Park Pl. Blvd., Kissimmee, FL 16,500 100.00% NA

5 Horizon Specialty & Rehab Center 221 Park Place Blvd., Kissimmee, FL 49,584 100.00% NA

6 205 Park Pl. Dr. 205 Park Pl. Dr., Kissimmee, FL 7,257 100.00% NA Center for Advanced Gynecology & Asthetics.

7 Park Medical Plaza 207 Park Pl. Blvd., Kissimmee, FL 13,100 100.00% NA

9 Kissimmee Surgery Center 2275 N. Central Ave., Kissimmee, FL 12,193 100.00% NA

10 Florida Eye Clinic 2225 N. Central Ave., Kissimmee, FL 9,383 100.00% NA

Florida Hospital Kissimmee 2400 North Orange Blossom Trail, Kissimmee, FL 34744

• 225 beds





1. FLORIDA HOSPITAL MEDICAL PLAZA 2400 N. Orange Blossom Trl., Kissimmee, FL 34744


85,90165.70%$18.50 NNNOwned by Duke Properties and leased by Lee & Assocates

Celebration Boul

evar

d

Celebration Place

W. Irlo Bronson Memorial Highway

Osceola Parkway

Central F

lorid

a Gre

enw

ay

Wor

ld D

rive

Inte

rnat

iona

l Driv

e

Celebratio

n Avenue

E. Donegan Avenue

Irlo Bronson Memorial Highway

N. M

ain Street

N. John Young Parkw

ay

441

2

64

435

1

9

10

7

18

E. Burleigh Boulevard

S.Mount H

omer

Road

19A

David W

aker Drive

4413

4

5 1267

2 | ADVENTIST HEALTHFlorida Hospital Waterman


3 1300-1330 Burleigh Blvd.

1300-1330 Burleigh Blvd., Tavares, FL 6,000 100.00% NA Grizzard Commercial

Realty, agent.

4 1691-1707 Mayo Dr. 1691-1707 May Dr., Tavares, FL 10,032 100.00% NA Central Florida Cardiovascular Center.

5 1879 Nightingale Ln. 1879 Nightingale Ln., Tavares, FL 25,000 100.00% NA Multi-tenant building

6 Salk Medical Clinic 1937 Salk Ave., Tavares, FL 5,285 100.00% NA Also available for sale at $227 psf.

7 2020 Nightingale Ln. 2020 Nightingale Ln., Tavares, FL 10,000 100.00% NA Expresscare of Lake County.

Florida Hospital Waterman 1000 Waterman Way, Tavares, FL 32778

• 269 beds

• Full service acute care facility




1. FOUNTAINS AT LAKEVIEW VILLAGE BLDG. 3 1922 Salk Ave., Tavares, FL 32778


9,063100.00%NAMulti-tenant building

2. FOUNTAINS AT LAKEVIEW VILLAGE BLDG. 1 AND II 1928-1936 Salk Ave., Tavares, FL 32778


18,24343.30%$18.50 NNNMulti-tenant building. 2,200 sf available.


Aloma Avenue

Lakemont Avenue

2

4

6

5

1

3

7

119 12

10

2 | ADVENTIST HEALTHWinter Park Memorial Hospital


3 133 Benmore Dr. 133 Benmore Dr., Winter Park, FL 23,595 100.00% NA Owned by Adventist Health

4 Winter Park Internal Medicine

1855 Hollywood Ave., Winter Park, FL 6,802 100.00% NA Owner occupied.

5 Royer Building 111 N. Lakemont Ave., Winter Park, FL 6,647 100.00% NA Multi-tenant building.

6 Winter Park Professional

255 N. Lakemont Ave., Winter Park, FL 16,000 73.70% $18.00 NNN

Family Physicians Group, owner; Leasing agent is RJ King.

7Winter Park Physician Office Building

1925 Mizell Ave., Winter Park, FL 26,360 100.00% NA

8 Maternal Fetal Center 147 Moray Ln., Winter Park, FL 4,412 100.00% NA Owned by Adventist Health

9 Winter Park Professional Building

320 N. Edinburgh Dr., Winter Park, FL 8,000 100.00% NA 1,400 SF available. City

Commercial, agent.

10 Central Florida Breast Center

2200 Glenwood Dr., Winter Park, FL 14,210 100.00% NA Owner occupied.

11 Winter Park OB-GYN 100 N. Edinburgh Dr., Winter Park, FL 6,739 100.00% NA

12 Florida Hospital Cancer Institute

2100 Glenwood Dr., Winter Park, FL 9,160 100.00% NA Owned by Adventist Health

Winter Park Memorial Hospital 200 N. Lakemont Avenue, Winter Park, FL 32792

• 297 beds

• Acute care facility



www.winterparkhospital.com

1. PHYSICIANS SURGICAL CARE CENTER 2056 Aloma Ave., Winter Park, FL 32792


18,64162.30%$17.50-20.50 MG4,600 SF available. Taurus South-ern, agent.

2. LAKEMONT CENTER 201 N. Lakemont Ave., Winter Park, FL 32792


20,93092.80%$21.50 MGMulti-tenant building.

8

20

2 | ADVENTIST HEALTHFlorida Hospital Winter Garden

Florida Hospital Winter Garden 2000 Fowler Grove Boulevard, Winter Garden, FL 34787

• Free standing emergency department

• New facility opening Spring 2016

• Services will include acute-care, on-site imaging and women’s care

• 97,000 SF no overnight beds

www.floridahospitalwintergarden.com

Currently there are no medical office buildings on the future campus of Florida Hospital Winter Garden. This freestanding emergency department is being developed in a new part of Winter Garden, known as Fowler's Grove. The area is dominated by residential and retail. We are currently seeing physician practices occupying space in retail sites, although we anticipate more traditional medical office development to break ground over the next 12 to 18 months.

Fowler Grove BlvdD

aniel

’s Rd

Daniel W

ebster

West

ern Beltw

ay


E. Dixie Avenue

W. Main Street

N. 14th Street

North Boulevard W.

4

56

3

7

11

91 810

13 2

12

3| CENTRAL FLORIDA HEALTH ALLIANCELeesburg Regional Medical Center


3 210 S. Lake St. 210 S. Lake St., Leesburg, FL 19,788 100.00% NA U.S. Health Works.

4 312 S. Lake St. 312 S. Lake St., Leesburg, FL 7,890 100.00% NA

5 501 Medical Plaza Dr. 501 Medical Plaza Dr., Leesburg, FL 6,120 100.00% NA Multi-tenant.

6 511 Medical Plaza Dr. 511 Medical Plaza Dr., Leesburg, FL 35,820 100.00% NA Florida Heart & Vascular Center

7 601 Medical Plaza Dr. 601 Medical Plaza Dr., Leesburg, FL 6,120 100.00% NA Neurological Center.

8 Leesburg Community Plaza 620 S. Lake St., Leesburg, FL 8,960 83.30% $12.00 MG Grizzard Commercial Real

Estate Group, agent.

9 640 S. Lake St. 640 S. Lake St., Leesburg, FL 8,642 100.00% NA Total Eye Care.

10 701 Medical Plaza Dr. 701 Medical Plaza Dr., Leesburg, FL 4,028 100.00% NA Leesburg-Ocala Heart

Institute.

11 705 Doctor's Ct. 705 Doctor's Ct., Leesburg, FL 6,000 100.00% NA Multi-tenant building.

12 709 Physicians Ct. 709 Physicians Ct., Leesburg, FL 23,428 78.90% $14.00 NNN Building owner is leasing agent.

13 Family Physicians Building 801 E. Dixie Ave., Leesburg, FL 6,302 100.00% NA Owner occupied. Cardiac

Specialty Institute

Leesburg Regional Medical Center 600 E. Dixie Avenue, Leesburg, FL 34748

• 226 beds

• Award-winning, acute care facility

• Hospital Corperation of America system

• Public; for-profit hospital system

www.cfhalliance.org

6. LEESBURG REGIONAL MEDICAL CENTER (MEDICAL OFFICE PARK) 601 E. Dixie Dr, Leesburg, FL 34748


78,132100.00%NACluster of 18 medical office condos located directly across from Leesburg Regional Hospital.

2. 801 E. DIXIE AVE. (MEDICAL OFFICE PARK) 801 E. Dixie Ave., Leesburg, FL 34748


45,380100.00%NACluster of six medical office condos.

22

441

192

Florida Trail

Budinger Road

5

4

3

6

2

1

4 | ST. CLOUD REGIONAL MEDICAL CENTERSt. Cloud Regional Medical Center


3 2900 - 2902 17th St. 2900 - 2902 17th St., Cloud, FL 8,799 100.00% NA

4 3100 17th St. 3100 17th St., Cloud, FL 11,008 100.00% NA

5 3106 17th St. 3106 17th St., Cloud, FL 6,802 100.00% NA

6 1525 - 1575 Budinger Ave.

1525 - 1575 Budinger Ave., Cloud, FL 6,731 100.00% NA

St. Cloud Regional Medical Center 2916 17th Street, St. Cloud, FL 34769

• 84 beds

• Acute care center offers comprehensive inpatient and outpatient support



www.stcloudregional.com

1. 2916 - 2920 17TH ST. 2916 - 2920 17th St., St. Cloud, FL 34769


5,686100.00%NA1,800 SF available; Schoolfield Properties, agent.

2. ST. CLOUD PROFESSIONAL CENTER 3000 - 3018 17th St., St. Cloud, FL 34769


17,345100.00%NA


5 | HCACentral Florida Regional Hospital


3 2200 W. 1st. St. 2200 W. 1st. St., Sanford, FL 3,718 100.00% NA

4 Lexington Park 400 Lexington Green Ln., Sanford, FL 11,014 100.00% NA Central Florida Cancer

Care.

5 Lexington Park 710 - 730 Lexington Green Ln., Sanford, FL 3,840 100.00% NA

6 Lexington Park 1200 Lexington Green Ln., Sanford, FL 4,000 100.00% NA

7 Lexington Park 1708 - 1718 Lexington Green Ln., Sanford, FL 7,200 100.00% NA

8 Radiation Oncology/Cancer Care Center

200 N. Mangoustine Ave., Sanford, FL 3,338 100.00% NA

9 309 - 321 N. Mangoustine Ave.

309 - 321 N. Mangoustine Ave., Sanford, FL 5,063 100.00% NA Ability Rehabilitation.

Central Florida Regional Hospital 1401 West Seminole Boulevard, Sanford, FL 32771

• 226 beds

• Award winning acute care facility

• Hospital Corporation of America system

• Public, for-profit health system

www.centralfloridaregional.com

1. THE FORUM 305 N. Mangoustine Ave., Sanford, FL 32771


15,784100.00%NA

2. CENTRAL FLORIDA MEDICAL ARTS CENTER 1403 Medical Plaza Dr., Sanford, FL 32771


42,00094.60%$8.00 FS

N. French Avenue

S. French Avenue

W. 1st Street 463 4

5

672 8

1

9

24

Irlo Bronson Memorial Highway

John Young Parkweay

Martin Luther King Jr. Boulevard

N. C

entral Avenue

N. M

ain Street

Oak Street

E. Neptune Road

7

3

2

5

86

4

1

9

12

10

11

13

5 | HCAOsceola Regional Medical Center


3 The Atrium Center 1200 N. Central Ave., Kissimmee, FL 19,966 76.60% $13.12-17.97 MG

4,507 SF available; Hold Thyssen, agent.

4 Grand Oak Professional Center 204 W. Oak St., Kissimmee, FL 19,899 75.50% $15.99-18.00

NNN

4,300 SF available; Sandev Management Company, agent.

5 309-313 W. Bass St. 309-313 W. Bass St., Kissimmee, FL 10,500 100.00% NA Florida Sports & Family Health Center

6 Central Medical 401 - 445 W. Oak St., Kissimmee, FL 47,692 91.50% $12.00-16.00

NNNSchoolfield Properties, agent.

7 Oak Commons Medical Park

601 Oak Commons Blvd., Kissimmee, FL 13,600 100.00% NA Cardiovascular Associates.

8 Oak Commons Medical Park

604 Oak Commons Blvd., Kissimmee, FL 15,167 100.00% NA Orthopaedic Associates of

Osceola.

9 Oak Medical Plaza II 800-810 Rose Ave., Kissimmee, FL 9,541 86.30% $22.00 MG Holladay Properties, agent.

10 Oak Medical Plaza I 800-820 W. Oak St., Kissimmee, FL 14,400 81.90% $14.00 NNN Holladay Properties, agent.

11 Osceola Medical Center 801 W. Oak St., Kissimmee, FL 12,000 100.00% NA

12 Central Square 901-911 N. Central Ave., Kissimmee, FL 20,000 100.00% NA Lee & Associates of Central

Florida, agent.

13 Osceola Cancer Center 737 W. Oak St., Kissimmee, FL 31,179 55.10% $12.00 NNN Property for Sale

Osceola Regional Medical Center 700 West Oak Street, Orlando, FL 34741

• 247 beds

• Located in the heart of Kissimmee; state of the art medical facility

• Hospital Corporation of America

• Public, for-profit health system

www.osceolaregional.com

2. KISSIMMEE MEDICAL PLAZA 308-314 W. Bass St., Kissimmee, FL 34741


23,86093.90%$17.50 NNNMedical office condos; Olde Town Brokers, agent.

1. OSCEOLA MEDICAL ARTS 720 W. Oak St., Kissimmee, FL 34741


61,11393.80%$18.00-20.00 NNNHolladay Properties, agent.


5 | HCAOviedo Medical Center


3 Oviedo Office Park 7560 Red Bug Lake Rd., Oviedo, FL 50,000 85.80% $20.00 MG 3 Condos for Sale

4 8000 Red Bug Lake Rd. 8000 Red Bug Lake Rd., Oviedo, FL 39,894 84.20% $16.50 NNN Owned by HTA, Florida

Hospital anchor tenant.

5 1000 Executive Dr. 1000 Executive Dr., Oviedo, FL 12,600 70.20% Negotiable

6 Oviedo Professional Plaza 7250 Red Bug Lake Rd., Oviedo, FL 18,402 90.20% $19.00 FS

7 Magnolia Corporate Center 2572 West SR 426, Oviedo, FL 60,000 100.00% NA 5 Condos for Sale

8 Oviedo Crossings Plaza 7400 Red Bug Lake Rd., Oviedo, FL 22,390 100.00% NA Multi-tenant retail center

Oviedo Medical Center 8300 Red Bug Lake Road, Oviedo, FL

• 64 beds

• 6 labor/delivery units

• Delivering January 2017

• 24/7 emergency care

1. OVIEDO MEDICAL OFFICE BUILDING 8400 Red Bug Lake Rd., Oviedo, FL


40,000Delivering July 2016$25.50 MG

2. 1000 WEST BROADWAY STREET 1000 West Broadway St., Oviedo, FL


68,93098.80%$24.00 MG

Red Bug Lake Road

W. Chapman Road

S. Central A

venue

W. State Road 426

7

2

4

5

6

1

38

26

Cypress Parkway

Marigold Avenue

1

5 | HCAPoinciana Medical Center

Poinciana Medical Center 325 Cypress Parkway, Kissimmee, FL 34758

• 30 beds - expanding to 76 beds

• New hospital - opened July 2013

• Currently adding 40,000 SF to facility

• In-patient, critical care and emergency services

• Hospital Corporation of America

• Public- for proft system

www.poincianamedicalcenter.com

1. POINCIANA MEDICAL ARTS BUILDING 339 Cypress Parkway, Kissimmee FL 32771


42,00060%$21.00 NNNCushman & Wakefield leasing agent

5 | HCAFree Standing Emergency Departments

Hunter’s Creek ER 12100 John Young Parkway, Orlando, FL 32837

• New facility - Opened June 2014

• 10,600 square feet

• 11 private beds

• 24/7 emergency care for adult and pediatric patients

Oviedo Emergency Room 8300 Red Bug Lake Road, Oviedo, FL 32765

• Opened November 2013

• 12 private beds

• Dedicated trauma room

• Emergency medicine physicians 24/7

• 11,000 square feet


Nemours Children’s Hospital 13535 Nemours Parkway, Orlando, FL 32827

• 95 beds

• Full service pediatric emergency dept, PICU, NICU, children’s clinic, research & education facilities

• Private, non-profit system

www.nemours.org

VA Medical Center 13800 Veterans Way, Orlando, FL 32827

• 134 in-patient beds, 120 nursing home beds, 60 domicillary and mental-health beds

• First VA built in the US since 1995

• Opening scheduled for spring 2015

www.orlando.va.gov

Central Florida Greenway

Lake

Non

a Bo

ulev

ard

Tavist ock Lakes Boulevar d

417

Narcoossee Road

6 | MEDICAL CITY AT LAKE NONA

1

2

1. LAKE NONA GATEWAY 9975 Tavistock Lakes Blvd., Orlando, FL 32827


74,00095%$20.00 NNNAnchored by Florida Hospital and UCF Pegasus Health

2. GUIDEWELL INNOVATION CENTER 6555 Sanger Road, Orlando, FL 32827


92,00033%$25.00 NNNDelivering 4Q2015, anchored by Guidewell, UCF Incubator


NOTES

Cushman & Wakefield 29HEALTH CARE REAL ESTATE ADVISORY SERVICES I CUSHMAN & WAKEFIELD

No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and same is submitted

subject to errors omissions, change of price, rental or other conditions, withdrawal without notice, and to any specific listing

conditions, imposed by our principals.

The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the

property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or

between that which is incidentally depicted and C&W or its client.

Cushman & Wakefield of Florida, Inc. 20 North Orange Avenue

Suite 300 Orlando, FL 32801

www.cushmanwakefield.comwww.cushwakehealthcare.com

Anne Spencer Director

[email protected] P. +1 407 541 4434 / C. +1 407 461 0825

www.floridamedicaloffice.com

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