Elion Partners – Woodbury, MN / January 25, 2017
Elion Partners and The Davis Group Enter Joint Venture to Build 50,000 Square Feet of Medical Office (Rendering courtesy of Elion Parthers)
Elion Partners and The Davis Group Enter Joint Venture to Build 50,000 Square Feet of Medical Office
Elion Partners and The Davis Group have entered a joint venture to develop a Class A medical office building at CityPlace in Woodbury, Minn. The new medical office building is the second to be developed, and is part of the 100-acre master planned development off Radio Dr. and I-94.
The two-story, 50,000-square-foot medical office building will be located between the retail and Residence Inn by Marriott, on approximately four acres.
“The momentum at CityPlace began with the development of the retail shops, hotel, and TRIA Orthopaedics, which have been phenomenally successful,” said Woodbury Mayor Mary Giuliani Stephens. “Today’s announcement of a new medical office building will only add to that success, and will solidify Woodbury’s reputation as a healthcare destination and an economic hub of the Twin Cities east metro.”
The approved development plan for CityPlace identified the goal of 400,000 square feet of Places to Work land uses. Following the construction of the 50,000-square-foot medical office, there will be 290,000 square feet of Places to Work uses.
“Creating a high-quality Places to Work environment is the main goal of the CityPlace development. The addition of the new multi-tenant medical office building will bring us another step closer to that goal,” said Eric Searles, Woodbury’s City Planner.
The Davis Group, in conjunction with Elion Partners, has designed the multi-unit medical office building to meet the demands of today’s medical office user.
“Our focus at CityPlace has always been to bring the highest quality development to the site,” said Juan DeAngulo, Managing Principal, Elion Partners. “That’s why we are excited to partner with The Davis Group who consistently delivers the highest level of product quality with all of its medical office buildings.”
“We are extremely pleased to be part of the CityPlace development,” said Jill Rasmussen, The Davis Group, Principal. “We look forward to our partnership with Elion Partners and bringing another high-quality Class A medical building to the Woodbury Community.”
The new medical office building will be joining the 75,000-square-foot Tria Orthopaedic Center on site, which is currently under construction and expected to open this summer.
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