Repurposed 179,285 square-foot facility makes retail health strategy for Connecticut’s leading health system possible and brings premier healthcare services to the community
Minneapolis, Minn. – October 4, 2021 – MedCraft Healthcare Real Estate, a leading healthcare real estate firm that provides advisory, development and financing services to health systems and physician practices, facilitated the acquisition for Yale New Haven Health System (YNHHS) – Connecticut’s leading healthcare system offering more than 100 medical specialties.
The previously unoccupied 179,285 square-foot Macy’s store attached to the Meriden Mall at 460 Lewis Avenue in Meriden, CT, is now fully owned by YNHHS and will be repurposed as a retail health facility. YNHHS partnered with MedCraft to locate, assess and facilitate the acquisition of a new site to expand its ambulatory care services in a key market.
“We’re thrilled that YNHHS chose MedCraft as a strategic advisor to identify, evaluate and negotiate the acquisition of a location of this complexity, scale and importance,” said Steve Bruckeridge, Development Principal with MedCraft. “We brought an experienced, multidisciplinary team to conduct a comprehensive analysis of potential sites that could meet YNHHS’ criteria based on market location, functionality, cost and constructability. With our retail redevelopment expertise and collaboration with the YNHHS team, the City of Meriden, Macy’s and Namdar Realty Group (the Meriden Mall owner), we were able to find the optimal site.”
One Location, Multiple Benefits
The vacant Macy’s property provides YNHHS with the opportunity to create an innovative, consumer-focused facility with numerous advantages, including:
• Complementary services and amenities for patients and visitors
• A highly convenient, visible and well-known location for patients, accessible from key interstate highways
• A building configuration that can be repurposed for YNHHS’s clinical program and future expansion plans
• A cooperative city committed to facilitating investment and healthcare expansion into the community
Learn More
Download MedCraft’s article – “Repurposing Retail Space: Top Consideration for Renovating Big-Box Structures” – here.
About MedCraft Healthcare Real Estate, LLC
MedCraft Healthcare Real Estate is a national leader in the development, financing, and management of ambulatory care and medical office buildings. MedCraft focuses solely on healthcare real estate projects and has partnered with healthcare systems and physicians in more than 85 projects totaling $3.5 billion throughout their 37-year operating history. Visit www.MedCraft.com.
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