#Orlando Health closed on the purchase of 15.13 acres of vacant land today, June 18, for roughly $9.9 million at the northeast corner of Dowden Road and Randal Park Boulevard.
The property was bought from Randal Park Investors LLC, which is developing a $25 million grocery-anchored shopping center on the northwest corner of State Road 417 and Dowden Road. Randal Park Investors— a joint venture between Winter Park-based BluRock Commercial Real Estate LLC and Orlando-based Intram Investments Inc.— bought the property from Colonial Properties Services Inc. in February for $3.5 million, county records showed.
Orlando Health said the new property will allow it to expand its services in the southeast Orlando area, but didn’t specify the exact use, but it could be to create a freestanding emergency room or more outpatient services.
Its competitor, Florida Hospital’s parent company, Adventist Health System/Sunbelt, also has a major interest in the growing Lake Nona market as it has a 67.24-acre site it bought in 2016 and another 15 acres it recently bought on Narcoossee Road on the north and south sides of Lake Nona Boulevard. #Florida Hospital likely will start with physicians and outpatient services, then add emergency services and eventually a hospital as the population grows, #Florida Hospital President Daryl Tol previously told Orlando #Business Journal.
This purchase is one of several lands grabs Orlando Health has made in the past months. The nonprofit earlier announced plans to buy property in downtown Orlando and a new medical office building in Oviedo. Orlando Health also has been rumored to be under contract to purchase 51 acres in Apopka, which would be a new market for the healthcare system.