MedCraft Healthcare Real Estate Partners with Yale New Haven Healthcare to Complete Purchase of Vacant Macy’s Store at Meriden Mall in Connecticut
Converted 179,285 square foot facility makes retail healthcare strategy possible for Connecticut’s primary healthcare system and delivers world-class healthcare services to the community
MINNEAPOLIS, October 04, 2021– (BUSINESS WIRE) – MedCraft Healthcare Real Estate, a leading healthcare real estate company that provides consulting, development and financing services to healthcare systems and medical practices, facilitated the acquisition of Yale New Haven Health System (YNHHS) – Connecticut’s leading health care system offering more than 100 medical specialties.
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(Graphic: Business Wire)
The previously unoccupied 179,285-square-foot Macy’s store attached to the Meriden Mall at 460 Lewis Avenue in Meriden, Connecticut, is now 100% YNHHS-owned and will be transformed into a retail healthcare facility. YNHHS has partnered with MedCraft to locate, assess and facilitate the acquisition of a new site to expand its ambulatory care services in a key market.
“We are delighted that YNHHS has chosen MedCraft as its strategic advisor to identify, assess and negotiate the acquisition of a site of this complexity, scale and importance,” said Steve Bruckeridge, Director of Development at MedCraft. “We brought in an experienced multidisciplinary team to perform a comprehensive analysis of potential sites that could meet YNHHS criteria based on market location, functionality, cost and constructability. Using our retail redevelopment expertise and working with the team at YNHHS, the City of Meriden, Macy’s and Namdar Realty Group (the owner of the Meriden Mall), we were able to find the optimal site. “
One location, many advantages
Macy’s vacant property offers YNHHS the opportunity to create an innovative consumer-centric facility with many benefits, including:
Additional services and amenities for patients and visitors
A very convenient, visible and well-known location for patients, accessible from major interstate highways
A building configuration that can be reused for the YNHHS clinical program and future expansion plans
A cooperative city committed to facilitating investment and expansion of health care in the community
Download MedCraft’s article – “Repurposing Retail Space: Top Consideration for Renovating Big-Box Structures” – here.
About MedCraft Healthcare Real Estate, LLC
MedCraft Healthcare Real Estate is a national leader in the development, financing and management of ambulatory care and medical office buildings. MedCraft focuses solely on healthcare real estate projects and has partnered with healthcare systems and physicians in more than 85 projects totaling $ 3.5 billion over its 37 years of operation. Visit www.MedCraft.com.
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