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News Release: Xchange Medical in St. Louis Park, Minn., is now almost 90 percent pre-leased

Davis says OVO Lasik + Lens ophthalmology clinic and surgery center will occupy a portion of the first floor of the suburban Minneapolis facility, which will be completed this fall

The planned Class A, 78,000-square-foot Xchange Medical building in St. Louis Park, Minn., is scheduled to be completed this fall.

ST. LOUIS PARK and MINNEAPOLIS, Minn., July 14, 2021 – The 78,000-square-foot, Class A Xchange Medical building Davis is developing in St. Louis Park just got a little closer to full occupancy.

OVO Lasik + Lens, a Minneapolis-based ophthalmology clinic and surgery center, has signed a lease for a portion of the first floor in the medical office building (MOB) and plans to move into the facility when it’s completed late this year.

The newly signed lease brings the total lease-up of medical space in the building to 87 percent, according to Mark Davis, Founder and Principal of the national healthcare real estate development, investment, brokerage and property management firm, which is headquartered in Minneapolis.

Davis Principal Jill Rasmussen represented the landlord and Marc Nanne, Managing Director, Brokerage for JLL Minneapolis, represented the tenant.

“We are very fortunate to have a number of leading healthcare providers who want to relocate to the Xchange Medical building,” says Mr. Davis. “We are very pleased that OVO Lasik + Lens is among this great group. The President and Founder, Mark Lobanoff, M.D., has extensive experience and is well-known as an excellent refractive surgeon.”

“The goal for OVO is to be the country’s most advanced Lasik and cataract center, and we want to be located in a building that shares our aspiration for being the best,” Dr. Lobanoff says. “Once we saw the architecture that was going into the Xchange Medical building, we knew this would be our new home. We look forward to serving Minnesota for years to come.”

Other tenants in the MOB will include Ear Nose & Throat Specialty Care (ENTSC) and Surgical Specialty Center of Minnesota, which will anchor the three-story facility. Together, ENTSC and SSC will lease 60 percent of the building, with SSC leasing the entire 27,000-square-foot third floor and ENTSC occupying most of the second floor.

Now under construction at 6099 Wayzata Blvd., Xchange Medical will be on a highly visible, sought-after 4.58-acre site, just west of Highway 100 on the south side of Interstate Highway 394. The new medical building will be centrally and conveniently located, and easily accessible. It’s also within walking distance of a variety of restaurants, retail and entertainment establishments. In addition, the area has strong demographics and more than 1 million people live within a 10-mile radius of the MOB, according to Mr. Davis.

The project will include a covered patient drop-off, a healing garden, and a total of 324 parking spaces including 51 underground and 273 surface spaces. The project will feature an attractive and highly functional design, high-quality materials and extensive landscaping.

Mr. Davis notes, “The site for our new MOB is in a very popular area with limited development sites available along I-394. We are very pleased to be able to develop such a desirable site to bring prime medical office space to this high-demand area.”

Some space is still available in Xchange Medical. 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 $364-plus million in development costs and completed 47 investment transactions totaling more than $575 million. It has also negotiated more than 250 healthcare property leases totaling 1.9 million square feet during that time. For more information, please visit www.davishre.com.

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