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MedCraft Purchases, Expands Physician-Owned Building to Support Essentia Expansion

MINNEAPOLIS, Minn. – MedCraft Healthcare Real Estate has partnered with Essentia Health and a group of physician leaders in Grand Rapids, Minnesota, to improve and expand access to affordable, high-quality healthcare services in Itasca County and surrounding areas. Essentia selected MedCraft as its real estate partner for the project to provide the capital and expertise for both the building acquisition and expansion, so Essentia can invest its resources into expanded operations at the facility.

The partnership was formed through Essentia Health’s investment in the Lakewood Surgery Center, a facility that has been serving patients for the past 11 years, and MedCraft’s purchase and expansion of the Lakewood Professional Building. With the development of the 26,633-square foot expansion, MedCraft will allow Essentia to complement the existing Lakewood services with expanded primary, specialty and diagnostic services along with retail pharmacy. MedCraft will develop the expansion on a turnkey basis and turn it over to Essentia next spring.

Kraus-Anderson will serve as the general contractor and BWBR as the architect on the project.

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Posted August 17, 2017

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