Optimal Outcomes Sells Tradition HealthPark Medical Office Buildings to Cleveland Clinic for $52,500,000
PORT ST. LUCIE, FL (July 30, 2021) – Optimal Outcomes, a full-service healthcare real estate developer and owner, announced that it has completed the sale of Tradition HealthPark, a two-property medical office park totaling over 100,000 SF located on the campus of Cleveland Clinic Tradition Hospital in Port St. Lucie, FL.
Optimal Outcomes acquired the existing Tradition HealthPark One medical office building plus 12 acres of adjacent land in 2015. Two years later, Optimal Outcomes completed the development of the second building, Tradition HealthPark Two, a 60,000 SF state-of-the-art MOB with a surgery center located adjacent to the hospital.
Martin Health System was acquired by Cleveland Clinic in 2019 and Optimal Outcomes worked with the health system to lease the remainder of the space in the building. Since that time, there has been significant institutional interest in the properties and the adjacent real estate which is also owned by Optimal. Cleveland Clinic continues to expand its services in Port St. Lucie. As part of its continued commitment to serve the community, Cleveland Clinic identified an opportunity to purchase the properties and the adjacent real estate, which is also owned by Optimal. Cleveland Clinic ultimately purchased the two 100% leased MOBs at a combined price of $52,500,000. The transaction closed on June 21st.
Patrick Marston, the founder and one of the principals of Optimal Outcomes, explains “we are incredibly proud of the quality of the Tradition HealthPark assets and the caliber of care that they facilitate. When a world-class health system like Cleveland Clinic is interested in leasing space in your building and ultimately owning the product that you have built, it validates a lot of what you are striving to do in the healthcare field.”
Marston went on to say, “we are grateful to have another quality provider like Cleveland Clinic making investments in our communities here in Florida that will help give our residents an improved healthcare landscape. We sincerely appreciate the opportunity to work with the people at Cleveland Clinic, each of whom was supportive, professional, and a pleasure to work with.”
About Optimal Outcomes
Optimal Outcomes is a single-source healthcare ambulatory development company based in St. Petersburg, FL. As a privately held, well-capitalized, firm with 25+ years of experience validated by over 2.5 million square feet of exceptional healthcare projects in Florida, Optimal Outcomes has the expertise and resources to design custom solutions for every ambulatory healthcare development. The firm manages and assumes responsibility for all aspects of healthcare facility development including site selection, due diligence, securing entitlements, design & engineering, permitting, construction, and ongoing facility management.
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