Two NexCore Healthcare Projects Named 2016 HREI Insights Awards™ Finalists
Two healthcare facilities developed by NexCore Group have been honored as Finalists in Healthcare Real Estate Insights™ magazine’s annual, national awards program. NexCore, which is headquartered in Denver, developed the facilities in Avon and Lewis Center.
The HREI Insights Awards™ are the only national awards dedicated to recognizing excellence in the areas of healthcare real estate (HRE) development and executive leadership. The awards are presented by Healthcare Real Estate Insights™ magazine, the first and only national magazine entirely devoted to covering HRE development, financing and investment.
Todd Varney, NexCore Managing Director Development and Acquisitions, noted, “We are very pleased that HREI magazine has honored two of NexCore’s projects – Buck Creek Medical Plaza and Mount Carmel Lewis Center – as Finalists in their prestigious annual awards program. NexCore always strives to help our clients realize their goals with high quality, cost-effective and efficient facilities that deliver excellent healthcare services in the communities they serve. These two facilities embody the realization of those goals.”
NexCore projects were named Finalists seven times and a Winner one time in the three previous years of the highly competitive HREI Insights Awards™ program, whose results are announced each December.
The NexCore-developed projects that were named 2016 Finalists are:
Buck Creek Medical Plaza, Avon, Colo.
A Finalist in the “Best New Medical Office Buildings (MOBs) and Other Outpatient Facilities (25,000 to 49,999 square feet)” Category, Buck Creek Medical Plaza is a $28 million, three-story, 48,300 square foot MOB and freestanding emergency department (FED)/urgent care center located in the heart of the Vail Valley. The facility, which opened in June 2016, realized the longstanding, elusive goal of a new, one-stop outpatient center in the Valley, further complicated by unique geography, topography and extremely high concentration of government-owned land.
In a unique collaboration, NexCore was able to secure the perfect 2.15-acre parcel through an ingenious and exemplary land swap that involved the Eagle River Fire Protection District, the City of Avon, and New York financier and Vail resident Oscar Tang, an individual highly committed to the Vail Valley, who owned adjacent land. NexCore fast-tracked its process and broke ground on Buck Creek seven months later.
With anchor tenants Centura Health and Colorado Mountain Medical, and other specialties such as physical therapy, dental and allergy, top-quality healthcare is being delivered to a Colorado mountain community that has been especially challenged by the changes in medical care during the past few years.
Buck Creek Medical Plaza’s centralized location with great visibility, beautiful views, access from U.S. Interstate 70 and free parking provides the kind of care the Vail Valley community demanded and deserved, while further establishing the area as a top-notch resort and residential community with quality healthcare, physicians and diversified jobs.
With its vibrant mix of providers, Buck Creek Medical Plaza was 94 percent leased at opening. The service mix creates a built-in referral network for tenants and is projected to generate 88,000 annual patient visits.
Mount Carmel Lewis Center, Lewis Center, Ohio
A Finalist in the “Best New MOBs and Other Outpatient Facilities (100,000 square feet or more)” Category, Mount Carmel Center is a $40 million, three-story, 130,000 square foot MOB, hospital outpatient clinic, medical fitness center and FED in the fast-growing Columbus, Ohio, suburb of Lewis Center.
Mount Carmel Health System (MCHS) wanted to develop an outpatient center to protect and increase its market share in the economically thriving area in Delaware County. The new facility would be part of the MCHS “hub and spoke” ambulatory network, feeding Mount Carmel St. Ann’s Hospital in Westerville about eight miles away. MCHS also envisioned the facility as a community center focused on wellness that would signal the system’s move toward value-based care.
MCHS identified Lewis Center and the U.S. 23 corridor as the ideal area for the facility, with its great visibility/branding, ease of patient access, future growth opportunities and a strategic location in a growing suburban retail corridor. NexCore led the site acquisition process, including market demand analysis, site identification, site due diligence, site selection and land closing. NexCore helped MCHS develop its program for the outpatient/medical fitness center, refine space requirements, and right size the facility. Six months into construction, MCHS wanted to change the urgent care center to an ED to accommodate service needs in Delaware Co. NexCore’s team redesigned the interior space, reengineered mechanical/electrical systems, priced construction and presented a proposal to MCHS in 37 days. MCHS accepted the proposal, and NexCore fast-tracked development of the ED, which opened just 45 days after the rest of the facility.
NexCore facilitated early collaboration on program and design for the facility, resulting in efficient use of space and funds. They were able to reduce the required land area from 13 to 11 acres, thereby reducing land and site development costs by over $600,000, which translated to lower lease rates for MCHS and other tenants.
NexCore helped MCHS bring a one-of-a-kind outpatient facility to Lewis Center/Delaware County, one that offers patients a complete continuum of care (prevention, diagnosis, treatment, retail services) and responds to healthcare reform. Since the facility opened, MCHS has implemented many community engagement and population health management initiatives, including a monthly lecture series, hosted events (cook-out and pool party, several 5K races, and Women’s Day), partnerships with local schools and recreational teams (swim meets, mentor program and volunteer program for developmentally disabled students), participation in SAFE Coalition for Delaware County and Partnership for a Healthy Delaware County, and corporate/senior discounts.
The HREI Insights Awards™ will be presented live Dec. 8 at the RealShare Healthcare Real Estate Conference in Scottsdale, Ariz. For more information on the awards, please see www.HREInsights.com.