New Medical Office Building to Break Ground in August
(JUNE 2, 2017 – WOODBURY, MINN.) – Elion Partners and Davis announced today that CityPlace’s planned 50,000+-square-foot medical office building signed a long-term lease with Minnesota Gastroenterology for 18,000 square feet of space. The new medical office building will be the second to be developed at CityPlace, and is part of the 100-acre master planned development off Radio Dr. and I-94.
“The development of our new clinic and endoscopy center in Woodbury is part of our strategy to grow the practice and improve our geographic access to the patients that we serve,” said Dr. Scott Ketover, CEO and President at Minnesota Gastroenterology. “The continued growth in Woodbury and surrounding communities combined with the visibility, accessibility and thoughtful planning of the CityPlace location provides an excellent fit for our organization.”
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.
“When the development plan for CityPlace was approved, the City identified the goal of creating a quality “Places to Work” environment that was supported by vibrant retail and hospitality uses,” said Woodbury’s Mayor Mary Giuliani Stephens. “Woodbury is a healthcare destination, and the announcement of Minnesota Gastroenterology as the lead tenant for the Davis office building continues that proud tradition.”
CityPlace will be the ninth location for the board-certified gastroenterology group, and is expected to open for business during the first quarter of 2018. The two-story, 50,000+-square-foot medical office building will be located between CityPlace retail and the Residence Inn by Marriott, on approximately four acres.
“We’re very excited to have Minnesota Gastroenterology, as the anchor tenant for our newest medical building development at CityPlace,” said Mark Davis, Principal at Davis. “Minnesota Gastroenterology is one of the finest healthcare groups in Minnesota and is the perfect fit for our new project. To date, we have experienced strong leasing activity and we’re confident the project will be a success upon opening next year.”
Minnesota Gastroenterology specializes in the diagnosis and treatment of adults and children with GI disorders and has several outpatient endoscopy centers and clinics in Bloomington, Coon Rapids, Eagan, Maplewood, Minneapolis, Plymouth and St. Paul.
CityPlace (www.CityPlaceMN.com) is a 100-acre, master-planned development located in Woodbury, Minn. The vision behind CityPlace is to create a dynamic, mixed-use development — a true work-play-stay community — in a prime suburban location. CityPlace brings diverse opportunities for recreation, shopping and cultural activities while balancing work with amenities and supportive functions. Located at the northeast corner of Radio Drive and I-94, CityPlace includes pedestrian-friendly scenic trails, Class A office and medical office space, a Whole Foods Market, shopping, dining, and a Residence Inn by Marriott Hotels.
Davis is a Minneapolis–based, full-service real estate company. The firm provides services to individual medical groups, hospitals and other larger medical organizations. Davis specializes in the areas of healthcare strategic planning, brokerage, management and development. Learn more at davisrealestatemn.com.
About Elion Partners
Elion Partners is a real estate investment firm focused on acquiring and developing quality commercial properties in strategic locations and providing real estate equity for developers and operators throughout the United States. The company has interest in a variety of asset types including industrial, office, retail, multifamily and mixed-use properties. Learn more at elionpartners.com. For updates from Elion Partners, follow @elionpartners.
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