Facing capacity issues in one of its east metro existing clinics, Minnesota Gastroenterology (“MNGI”) wanted a site that could serve as a conveniently located alternative for existing patients that would help it retain and increase its strong east metro client base. MNGI identified Woodbury as its ideal target market. They were attracted to Woodbury because of the strong demographics, growing population, proximity to Western Wisconsin and high concentration of existing patients.
Davis, in its role of strategic real estate advisor, did a comprehensive market assessment of the existing office and potential development opportunities. After MNGI determined that no existing office space provided the requisite square footage, image and/or access/visibility that it sought, Davis identified four new development opportunities. As Davis was a partner in one of the four development opportunities, it committed to a fully transparent/open book approach. Davis requested and received four proposals. MNGI selected the Davis proposal as it offered the most attractive cost structure, committed to the fastest completion timeline and the proposed site had optimal access and visibility.
CityPlace Medical has provided MNGI and Associate Eye with a premier location in a Class A medical office building. This building is a part of the brand new, vibrant CityPlace mixed use development in Woodbury that is home to hotels, retail (Whole Foods, Nordstrom Rack), restaurants, medical offices (Tria Orthopedic) and other high-end businesses, which will increase MNGI’s exposure in an already booming area.