The medical office building is part of Oak Hill Hospital’s $96.6 million expansion plan
TAMPA, Fla. (August 10, 2020) – Construction is underway on a 42,017-square-foot medical office building that is part of Oak Hill Hospital’s $96.6 million expansion in Brooksville. The two-story building, known as the Nature Coast Medical Pavilion, will sit adjacent to the hospital and will provide more than 27,000 square feet of medical office space for additional medical services. The remaining 14,750 square feet is available for lease to medical practices.
Juan A. Vega, Jr. SIOR, CCIM, Executive Managing Director, Healthcare Services/Office Services, Colliers International is handling leasing for the property. The property is owned by Healthpeak Properties, Inc., a fully integrated real estate investment trust (REIT) and S&P 500 company.
“With the increase in population in this area, there is a definite need for specialty medical services,” said Vega. “This modern medical building provides the perfect space for providers in specialties such as oncology, cardiac care, physical medicine, rehab, and emergency medicine that will bring additional healthcare services provided by the hospital to the surrounding community.”
Oak Hill Hospital, a 350-bed HCA West Florida Hospital, plans to use space in Healthpeak’s building to add ancillary services such as cardiac care, outpatient rehab, wound care, internal medicine, OB/GYN, and primary care. In addition to Healthpeak’s Medical office project, the hospital is also expanding the North Tower and Emergency Department and adding additional infrastructure such as parking and generators to serve the growing campus.
The nearly $100-million hospital expansion plan will alleviate the hospital’s current space challenges. The hospital can reach over 100 percent capacity in the winter months, and occupancy is around 80 or 90 percent in the summer months.
Construction on the Nature Coast Medical Pavilion is expected to be completed in December.
About Colliers International Group Inc.
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.