In June 2015, Optimal Outcomes purchased an existing medical office building and adjacent developable land in the Tradition master planned-community located in Port St. Lucie, FL adjacent to Martin Memorial Health System Tradition Medical Center. The total land acquired was 10.73 acres. The existing medical office building contains 41,750-sf, was built in 2013, is connected to the hospital, and is currently 100% occupied. The additional land comprises approximately 7.2 acres with entitlements for up to 108,000-sf of future medical office development. Optimal is pursuing the development of a second medical office building which will be three stories and contain approximately 60,000-sf.
The property is located in the Tradition master planned community of Port St. Lucie, Florida and enjoys the premier location in the market for medical development immediately adjacent to Martin Health’s new Tradition Medical Center, a 90-bed acute care hospital opened in 2014. Martin Health recently commenced construction on an expansion of the hospital to 190 beds, with a proposed completion date of late-2017. Martin Health occupies a significant portion of the existing medical office building and is in the process of determining function needs for the second medical office building. Finalization of a lease is expected in early 2016 at which time construction is anticipated to commence.