Promise Healthcare buys land for long-term care hospital

Promise Healthcare buys land for long-term care hospital

BUYER: Promise Properties of Lee Inc. (principal: Peter Baronoff), Boca Raton
SELLER: Hemera Fort Myers Ltd.
PROPERTY: 3056 Champion Ring Road, Fort Myers
PRICE: $2.13 million
PREVIOUS PRICE: $4 million, October 2010
LAW FIRM ON DEED: Mombach Boyle & Hardin PA, Fort Lauderdale

PLANS, DESCRIPTION:
Boca Raton-based hospital group Promise Healthcare Inc. purchased 9 acres in Forum Corporate Park for $2.13 million.

The price equated to $236,922 per acre. That figure is lower than the two-year average price per acre for office land ($935,216) in Southwest Florida, according to the CoStar Group.

The hospital group has announced plans to create a new 60-bed long-term acute-care hospital, for patients requiring a hospital stay of more than 25 days, on the site. Freese Johnson of Marietta, Ga., is scheduled to start building the 56,000-square-foot facility this fall. Completion is expected around May 2014.

Arlington, Texas-based Ascension Group designed the proposed Promise Hospital of Lee, which was modeled after several existing Promise Healthcare's facilities in Louisiana and Florida. It will feature private rooms, an intensive care unit, isolation rooms, dialysis stations, a wound-care suite, therapy gym, in-house pharmacy, physicians lounge and dictation area, family consulting room for private consultations with physicians, multi-media room and cafeteria.

The hospital is expected to generate 300 full- and part-time jobs.

Promise Healthcare operates 13 hospitals nationwide and employs more than 2,000 people.