Davis Healthcare Opens Minneapolis-Area MOB
Davis Healthcare Real Estate has completed Lakeville Specialty Center, a 100,500-square-foot medical office building in Lakeville, Minn.
The development team included Synergy Architecture Studio, Timco Construction and KOMA as structural engineer, among others.
Davis obtained a $2.9 million construction loan from Bridgewater Bank in 2021, according to Dakota County records. The groundbreaking ceremony took place the following year in June, when the specialty clinic was already fully leased.
The now-completed facility is occupied by Allina and MNGI Digestive Health. The former has taken a total of 78,500 square feet, offering orthopedics, oncology, women’s health and cardiology services, while the latter operates a clinic and endoscopy center across 22,000 square feet.
Plans for the medical office building initially called for a 50,000-square-foot building, rising on a 4.2-acre site. Due to a strong leasing demand in the health-care sector and the commitment from the two tenants, the developer doubled the size of the facility, which extended the project’s completion timeline by four additional months. The four-story Class A property now offers 540 car spaces and an underground parking structure.
Lakeville Specialty Center took shape at 18645 Orchard Trail, near Interstate 35 and 22 miles south of downtown Minneapolis. Other medical providers in the surrounding area include Children’s Minnesota Cardiovascular Care, MinuteClinic, Park Nicollet Urgent Care Lakeville and Lakeville Orthodontics, among others.
The Minneapolis-St. Paul office market currently has 16 other medical office buildings in various stages of development, set to add 1.5 million square feet to the existing inventory, CommercialEdge data shows.
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