An office building deal expected to close before the end of this month will provide steam for the redevelopment of Trinity Medical Center’s campus at 800 Montclair Road, a Birmingham-based real estate broker said.
As part of my work for the print edition this week, I spoke with Walter Brown, vice president of Graham & Co., about the future of Trinity’s current campus.
As we’ve reported, Trinity’s campus will become vacant once the hospital completes a relocation to what will be known as the Grandview Medical Center on U.S. 280. The new facility is expected to open by 2016.
Brown told me that Philadelphia-based Resource Real Estate is working to sell a 144,000-square-foot professional office building on the Montclair Road campus that Trinity doesn’t own. He said the deal “bodes really well for the future and redevelopment of that entire campus.”
While not disclosing specifics, Brown said the professional office building is expected to house a mixture of medical and general office functions.
Just as Trinity CEO Keith Granger told me for an earlier story Monday, Brown said recent developments in the Montclair Road area are strong indications that the hospital’s campus will see continued use after 2016. Brown mentioned the addition of the Tapestry Park apartments, a six-building complex added this past fall and recently bought by a California real estate firm for $32.4 million.
“In a nutshell, we see a lot of positives in that area,” Brown said. “It’s a completely different situation than other hospitals.”