News Release
The firm’s principals say the prime, central location on Highway 610 will benefit patients and tenants, including MNGI Digestive Health which will occupy the entire second floor
The planned 44,000-square-foot Maple Grove Specialty Center will be in a highly visible, convenient location fronting Highway 610 and Maple Grove Parkway in Maple Grove, Minn.
MINNEAPOLIS, June 30, 2021 – When MNGI Digestive Health (formerly Minnesota Gastroenterology) wanted to expand into the northwestern area of the Twin Cities, it enlisted the help of its long-time medical real estate advisor, Minneapolis-based Davis.
“MNGI has been a client of Davis for many years so it was important for us to find a good site for them to expand,” says Mark Davis, Founder and Principal of the national healthcare real estate development, property management, brokerage and investment firm.
Davis Partner Michael Sharpe adds, “MNGI has numerous outpatient clinics throughout the metro area but the leadership team really wanted to build a strong presence in the northwestern suburbs. The solution we found is an ideal site in Maple Grove bordered by Highway 610 and Maple Grove Parkway. It’s a highly visible location that will be convenient for building tenants and their patients. It’s also in a growing medical hub near the Maple Grove Hospital.”
“MNGI is looking forward to this expansion and being a larger part of the medical hub of activity in the Maple Grove area,” says Scott Ketover, MNGI’s President and CEO. “The easily accessible location will provide convenient access for adults seeking GI care and provides MNGI the opportunity to serve the growing base of patients in the Northwest metro area and beyond.”
Construction on the new 44,000-square-foot, two-story Maple Grove Specialty Center is expected to begin in late July. MNGI has signed a lease for the entire 22,000-square-foot second floor of the building, and Mr. Davis noted that other potential tenants have expressed interest in this market. In addition to developing the specialty center, Davis will own the building and provide property management and leasing services to tenants.
The Maple Grove Specialty Center is expected to be completed by August 2022. The specialty center will occupy 4.2 acres on the southern end of the 8.13-acre site. Plans are for retail stores and offices to occupy the northern portion of the site.
The architect for the project is Minneapolis-based Synergy Architecture Studio and the general contractor is Timco Construction Inc., which is headquartered in Plymouth, Minn.
The first floor is available in the Maple Grove Specialty Center. Interested healthcare providers are encouraged to contact Jill Rasmussen at jrasmussen@davishre.com or 612-341-3247.
About Davis
Davis, founded in 1986, is a national healthcare real estate firm that offers unparalleled expertise in healthcare real estate development, property management, brokerage, investment and consulting services to health systems, hospitals, individual medical groups, specialty practices and other healthcare organizations. Over the past five years, the company has developed 33 Class A medical buildings totaling about $365 million in development costs and completed 47 investment transactions totaling more than $575 million. It has also negotiated more than 220 healthcare property leases totaling nearly 2 million square feet during that time. For more information, please visit www.davishre.com.
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News Media Contact: Vickie Ridgley, 612-383-2717, vridgley@davishre.com
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