The Real Deal Miami

Miami firm sells Lakeland site to hospital operator for $14.5 million

Brown Development Group sold the 103-acre site to Altamonte Springs-based Adventist Health System
October 07, 2017 12:00PM

Adventist Health System is a multi-state hospital operator based in Altamonte Springs.

A Miami-based firm sold 103 acres near Florida Polytechnic University in Lakeland to a hospital operator for $14.5 million.

Brown Development Group of Miami sold the land off Interstate 4 to Adventist Health System for $140,776 per acre.

It is the first property acquisition in Polk County by Altamonte Springs-based Adventist, which operates 45 hospitals with 8,200 beds in 11 states.

Lisa Parks Abberger of Hauger-Bunch Inc., who represented Brown Development in the land sale, told the Tampa Bay Business Journal that Adventist may build a 200-bed hospital on the site.

Construction of a hospital on the Lakeland property would require approval from the Florida Agency for Health Care Administration. [Tampa Bay Business Journal]  — Mike Seemuth