TCC Breaks Ground on the Medical Pavilion at National Harbor
NATIONAL HARBOR, MD – June 19, 2017 – Trammell Crow Company (TCC) and its partner, Meadow Partners, have broken ground on their latest venture, the Medical Pavilion at National Harbor. The project, located in National Harbor, Maryland, includes a 93,100-square-foot, Class-A medical office building that is more than 62 percent preleased. The building is expected to deliver in Fall 2018.
Located at 251 National Harbor Boulevard, the 5-story building will be home to a variety of medical and clinical specialties, including dermatology, wellness & functional fitness, orthopedics, primary care and an ambulatory surgery center. The Project was designed to maximize views and natural light while providing large, uninterrupted floorplates to enhance design and clinical practice efficiency. The Project was further designed to create a calm, inviting and patient-centered environment that interconnects physicians, staff and patients to the safe and secured parking facility as well as the beneficial amenities of National Harbor.
“TCC is thrilled to be part of the growing and vibrant National Harbor community,” said Eric Fischer, National Healthcare Practice Leader and Managing Director within TCC’s MidAtlantic Business Unit. “We have received exceptional support from the Peterson family and Prince George’s County, which adds to our enthusiasm. We would also like to acknowledge and thank Dr. Terry Fullum for his vision and leadership in generating such great interest amongst physicians, enabling us to execute leases and reach this milestone. This Project will be impactful to both National Harbor and the greater Prince George’s community.”
“Quality Healthtech Solutions is dedicated to serving the healthcare needs of families and businesses within the National Harbor community and Prince George’s County,” said Dr. Terrence Fullum, MD, President and CEO of Quality Healthtech Solutions, LLC. “The Medical Pavilion at National Harbor allows us, and the other physicians and surgeons within the building, to provide the highest quality care in a more convenient location for patients.”
The Medical Pavilion at National Harbor is located within the master-planned community developed by Peterson Companies. The Pavilion will complement the ever-increasing list of amenities and attractions within National Harbor, including the Gaylord National Resort and Convention Center, Tanger Outlets, thousands of hotel rooms, hundreds of residential and office units, tree-lined promenades with popular shops and restaurants, a marina, The Capital Wheel and the newly-opened MGM National Harbor.
Jon Peterson, Principal with Peterson Companies, said, “National Harbor’s downtown waterfront district is already home to a variety of great restaurants, boutiques, entertainment options, hotels, class-A office and residences. The addition of a 95,000-square-foot state-of-the art medical office building to the mix is further evidence of National Harbor’s evolution as a micro-city on the banks of the Potomac. People from Prince Georges County and around the region will be able to take advantages of the great medical services that this facility will provide.”
Representatives from CBRE’s Washington, DC offices, John Kerr and Daniel McGivney, are handling the project’s leasing and marketing efforts.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of March 31, 2017, TCC had $5.1 billion of projects in process and $5.9 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2016 revenue). For more information visit www.TrammellCrow.com.
About Meadow Partners
Meadow Partners is an independent, privately owned real estate investment and asset management firm that manages a series of closed-end private equity funds and separate accounts on behalf of institutional investors. The firm was founded in 2009 by Jeffrey M. Kaplan, a 25-year veteran of institutional real estate investment and previously Managing Principal and Co-Chairman of the Investment Committee of Westbrook Partners. Mr. Kaplan and his two partners, J. Andrew McDaniel, based in London, and Timothy P. Yantz, based in New York City, have been responsible for the acquisition and ongoing asset management of $26 billion of real estate assets located in the United States, Europe and Asia through over 250 separate transactions.
Since inception, Meadow Partners has raised in excess of $1 billion of equity for its investment strategies and has acquired more than $3 billion of real estate assets in its target markets of New York City, Washington D.C., London, and Paris with a focus on value-add office, retail, hotel and residential properties.