Medvest Starting New Healthcare Projects In Ala. & Fla.


Capital Growth Medvest is starting development on two medical real estate buildings, in addition to closing a related acquisition. The three properties are located in Alabama and Florida and represent an estimated combined value of $20 million.

Hughes Road Medical Office Building is a 30,000+/- sf. development in Madison, Ala. breaking ground this week. SKT Architects, PC and Hoar Construction are involved in the design and construction of the property, respectively. The key tenant is Crestwood Medical Center, a subsidiary of Community Health Systems. Medvest is both the medical real estate owner and developer with local partner, O’Neal Properties. The medical office building is projected to open January 2013.

Cornerstone Ambulatory Surgery Center is a planned 5,000+ sf. facility in Pensacola, Fla. that will begin construction next week with an anticipated open date of November. Goodwyn, Mills & Cawood is the project’s architect with Bradford Building as the general contractor. Property tenants will include both Pain Consultants of West Florida and Practice Partners in Healthcare, Inc. The healthcare project’s owner and developer is Medvest.

Pain Consultants of West Florida is performing a sale-leaseback of a 15,000 sf. medical office building with Medvest. The deal is expected to close at the end of the week.

Comments or Questions:
Joe Baugh: (205) 969-7140