Clearwater, FL-based BayCare Heath System operates 16 hospitals and is the 3rd largest health network in the State of Florida

But lately the health care system has been adding to its real estate portfolio

Including by acquiring several Tampa-area Big Box retail buildings, drugstores and even a ~600,000 square foot office park

BayCare is not looking to become a Landlord;  it instead plans to repurpose these properties as healthcare and medical research facilities

By creating outpatient medical centers and freestanding ERs via adaptive reuse of the Big Box and drugstore properties

As for the 600,000 square foot office park on ~36 acres in West Tampa?

It will become the BayCare Academic Health and Research Corridor and serve as the hub for the Health System’s academic and research efforts

As well as the partnership it announced last year with Northwestern Medicine, a nationally recognized academic health system in Chicago

So why is BayCare turning to adaptive reuse for its real estate needs?

There are a variety of reasons ranging from location and availability to cost and speed of execution ⬇️