Although the first of the numbered sequence of on-campus (and attached to the hospital) Medical Office Buildings (MOBs), this is actually the newest. When developed, the hospital was also in the process of expanding core hospital assets (including a bed tower and an ER expansion). During that process, budget problems forced the non-core asset (the new MOB) to be placed on hold. Facing budget issues, funding problems and physician challenges, the hospital opted to utilize our firm and partners as a third-party solution to work through the issues. The solution led way to our team gaining the development rights for this project, as well as purchase options for the two existing MOBs — 48 and 52. In this case, the hospital wanted to sell existing MOBs to improve cash flow, plus avail land next to the hospital to keep physician groups on campus. In addition, this development solution provided new revenue spaces for women’s services, a sleep lab, a cath lab, wound care, diabetes treatment, education, and physician ownership opportunities.
- Client St. Vincent’s East
- Parent Company Formerly Medical Center East, now Ascension
- Facility Type Medical Office Building
- Location Birmingham, AL
- Completed 2004
- Square Feet 100,000