Medical Office Complex in Celebration, FL

New York based developer Sherman Group LLC has bought 7 acres of land in Celebration where it plans to build a 90,000sf medical office complex. The property is the last available parcel in Celebration zoned for medical office space use that is not controlled by the Florida Hospital group.

According to Osceola County public records the land was purchased for $486,000 per acre. The project is expected to cost $20MM and lease rates will be approximately $25/sf with office sizes ranging from 1,650sf to 23,500sf.