Lee Memorial Hospital Buys Former Ruby Tuesday Site

The hospital system purchased the restaurant building in Fort Myers for $2.2 million.

Updated on Oct. 20, 2026 in Commercial

Isometric editorial illustration of a generic architectural volume representing commercial real estate redevelopment. — Lee Memorial Hospital acquired a former restaurant property in Fort Myers for $2.2 million to secure a strategic location for future growth. AI Illustration. Upload story photo >

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Lee Memorial Hospital Inc. has acquired the former Ruby Tuesday restaurant property in Fort Myers for $2.2 million. The site, located at Park Royal, includes a 5,398-square-foot building that served customers for two decades.

Why it matters

The acquisition of the high-traffic site secures a strategic location for the hospital system near its existing presence in the area. The property remains notable for its visibility, seeing approximately 37,000 vehicles pass by daily.

The property features a 5,398-square-foot building and sits in a location with high daily exposure, drawing 37,000 vehicles daily. The deal was finalized in less than two months due to competitive interest.

The players

Lee Memorial Hospital Inc.

This is a regional healthcare system that operates multiple medical facilities across the local area.

Ruby Tuesday

This is an American casual dining restaurant chain that formerly operated hundreds of locations nationwide.

The details

The site housed a Ruby Tuesday for 20 years before the restaurant closed in May 2026. The chain previously faced significant consolidation, having filed for Chapter 11 bankruptcy in 2020 which resulted in the closure of 200 locations.

The Ruby Tuesday chain filed for Chapter 11 bankruptcy in 2020.
The restaurant at the Park Royal location closed its doors in May 2026.
Lee Memorial Hospital Inc. completed the purchase of the property in October 2026.

Culture Shift

This transaction reflects the ongoing repurposing of former restaurant assets that were divested during the 2020 Ruby Tuesday Chapter 11 bankruptcy restructuring. The shift highlights how medical systems are increasingly absorbing prime retail real estate to expand their footprint.

Residents in Fort Myers may soon see the transition of the former restaurant space into a new medical facility or office. This change repurposes a high-traffic intersection, potentially altering local commuting patterns or service accessibility.

The takeaway

The conversion of this long-standing restaurant site into healthcare infrastructure illustrates how hospital systems are reclaiming high-visibility locations to better serve local populations. Future commercial developments in the area may similarly prioritize these high-traffic transit corridors.