Seeking a more centralized location to better serve patients throughout the Minneapolis metropolitan area, two of the area’s leading healthcare providers have agreed to anchor the planned Xchange Medical building in St. Louis Park, a western suburb of Minneapolis.
Minneapolis-based Davis has announced that Ear Nose & Throat Specialty Care (ENTSC) and Surgical Care Affiliates (SCA) will anchor the three-story, Class-A medical office building, which will be built at a highly visible, sought-after location just West of Highway 100 on the south side of Interstate Highway 394.
At 78,000 square feet, Xchange Medical will be another significant development project for Davis.
Xchange Medical, which will be located at 6111 Wayzata Blvd., will be built on a 4.58-acre site Davis assembled from four separate parcels that currently house vacant office and warehouse buildings, an auto repair shop and a parking lot.
Davis has owned all four parcels since 2015 but didn’t begin planning for a new MOB on the site until now, according to Mark Davis, founder and principal of the national healthcare real estate development, investment, brokerage and property management firm.
Together, ENTSC and SCA will lease 60 percent of the MOB, with SCA leasing the entire 27,000-square-foot third floor and ENTSC occupying most of the second floor. The project also 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.
Davis Principal Jill Rasmussen says the location for the planned MOB will provide many benefits for tenant physicians and staff, as well as patients and their families.
“The new medical building will be convenient, central and easily accessible to the 129,000 cars passing by daily along I-394,” said Rasmussen. “The site is only five minutes from downtown Minneapolis, and within walking distance from The Shops at West End, which includes a variety of restaurants and retail and entertainment establishments.”
The St. Louis Park City Council unanimously approved the Xchange Medical project Aug. 17. Davis is currently finalizing construction plans on the MOB, will seek construction bids beginning early this month and expects to break ground in October. Xchange Medical is projected to be completed in late 2021.