Park Avenue Medical Office Building

Services Provided : Owner Representation / Real Estate Consulting / Development

THE SITUATION

Madison County Hospital (MCH), located in London, Ohio wished to create a medical office/ambulatory facility on the hospital’s main campus. MCH planned to include a variety of hospital services on the ground floor and provide physician office suites on the second floor of a +/- 28,000 square foot facility.

THE HPLEX SOLUTION

In order to help fund the cost of the facility and create an economic incentive for physicians to locate in the facility, MCH engaged Hplex Solutions to develop the project and sell physicians their office space under the terms of an “air-rights” lease. This transaction provided interested physicians an opportunity to own versus lease their space. Additionally, MCH received cash proceeds from the sale, long-term commitments from key physicians and appropriate controls over the use and ultimate disposition of the physician suites. The medical office building represents a dynamic addition to MCH’s campus, yet blends well with existing campus design features.

The completed Park Avenue Medical Office Building is a +/- 28,000 square foot ambulatory/medical office facility located in London, Ohio on the campus of Madison County Hospital. The facility includes physician office suites as well as various hospital services.