AdventHealth pays $21M for Polk office building

By Louis Llovio
| 4:00 p.m. October 7, 2026
| 1 Free Article Remaining!

A 43,100-square-foot medical building at 410 Lionel Way in Davenport has sold to AdventHealth.

Tampa Bay-Lakeland

Flagship Healthcare Properties, an outpatient healthcare real estate firm, has sold a medical office building in Polk County to AdventHealth.

The 43,100-square-foot medical building is at 410 Lionel Way in Davenport and next to the Altamonte Springs based healthcare system’s 202-bed heart center.

AdventHealth did not respond to questions Wednesday about its plans for the building.

Flagship did not disclose the sale price, but county records show AdventHealth paid $20.9 million for it. The firm bought the property in 2021 for $10 million.

North Carolina-based Flagship Healthcare Properties is tied to the real estate investment trust Flagship Healthcare Trust. According to a statement, the REIT has an interest in 114 properties totaling 3 million square feet of space and valued at more than $1.1 billion.

AdventHealth is now the 10th largest hospital group in the nation, according to industry trade publication Becker’s Hospital Review, with $23 billion in operating revenue in 2025. It operates hospitals in nine states, from Colorado to Texas to Wisconsin.

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.