Groundbreaking Approaching for Third Building on Premier Health Campus - Middletown
Medical Office Building will be Attached to Atrium Medical Center
On September 21, Middletown Regional Hospital and Equity broke ground on a five-story medical office building on Premier Health Campus — Middletown. The building is the third of nine buildings currently planned for the innovative health campus located at State Route 122 and Union Road in Middletown. Equity, a full-service commercial real estate company, will manage all development, construction, brokerage and property management for the medical office building slated to open in late 2007.
The medical office building will be connected to the new Atrium Medical Center. This connection allows for direct access between hospital services and physician offices. For the most part, physician offices and hospital services offered in the medical office building will correspond with the services offered on the same floor of the hospital, allowing for enhanced convenience and ease of use by patients, staff and physicians.
"We are pleased to break ground on the third building for Premier Health Campus — Middletown," said Douglas W. McNeill, president and CEO of Middletown Regional Health System. "The adjacencies achieved between the office building and the medical center are indicative of the care we've taken to develop an efficient and convenient campus that will serve the needs of our patients, staff and physicians for years to come."
The medical office building will contain physician office space and several hospital services, including cardiac rehabilitation, The Wilbur & Mary Jean Cohen Women's Center and education facilities. The first floor will also contain a retail pharmacy, restaurant and offices for the hospital cashier and financial counseling.
Physicians will benefit from the efficient design of the office space in the 110,000 square-foot building. The building is more than 50 percent pre-leased, and there are ownership opportunities providing equity accumulation and tax savings. Steve Wathen, CEO of Equity, stated, "Pre-leasing activity has been extremely strong, and we are expecting that the facility will be fully leased by the time it opens."
When complete, the 190-acre campus will include the state-of-the-art Atrium Medical Center with attached cancer center and behavioral health pavilion, in addition to the attached medical office building. The campus will also contain the Ann & Arthur W. Bidwell Surgery Center, a freestanding outpatient surgery facility. A number of buildings will be built as a result of partnerships, including the Dayton Children's outpatient center, a campus YMCA, senior housing and the Greentree Health Science Academy, a collaboration with Butler Technology and Career Development Schools, Miami University, Middletown Regional Hospital and Warren County Career Center.
Equity was incorporated in 1989 and currently has offices in Cincinnati, Ohio and Tampa, Florida, plus its headquarters in Worthington, Ohio. Equity is the 22nd largest developer of healthcare projects in the United States. The company has three operating divisions: construction, development and real estate services. Its Cincinnati office is located at 11300 Cornell Park Drive, Suite 150, Cincinnati, OH 45242, (513) 336-8765. For more information regarding leasing and sales, please contact Equity at: Erin Klotzbach, (513) 265-1362 or Dianne Ross, (513) 702-1314.