GBMC currently operates 11 similar sites in Baltimore and Harford Counties, with growth anticipated to include Baltimore City after the expected opening of this facility in 2020
GBMC Health Partners, a multi-specialty medical group of GBMC-employed providers, has signed a lease with Continental Realty Corporation (CRC) for 13,766 square feet of space within Padonia Village, a nearly 115,000 square foot neighborhood shopping center located at 61 E. Padonia Road in the Timonium section of Baltimore County. The healthcare organization intends to operate a new Advanced Primary Care practice containing physician practice groups in the space formerly occupied by Padonia Ale House, with an anticipated 2020 opening. Kristina O’Keefe, Leasing Manager for Continental Realty Corporation, represented the landlord in this transaction. This lease brings the main level of the center to 100% occupancy.
The Advanced Primary Care practice at Padonia Village will provide primary and urgent care for the entire family, from newborns to the elderly. It will be initially staffed with a team of three primary care providers, physicians and advanced practice clinicians from the GBMC medical staff. The number of practitioners at the facility is expected to expand as need and demand grows. The space will contain on-site x-ray facilities, phlebotomy services and certain lab testing capabilities, with extended hours of operation including evenings and weekends. GBMC Health Partners intends to participate with nearly all insurance carriers, and all records will be part of GBMC’s single-electronic medical record system, assuring the immediate access of previous hospitalizations or visits to other GBMC providers. In addition, patients may schedule appointments to see the on-site providers while visiting the facility for urgent care requirements.
GBMC Health Partners currently operates 11 similar Advanced Primary care sites throughout Baltimore County and Harford Counties and anticipates further growth into Baltimore City.
The new medical facility continues the trend among major hospital groups moving closer to its patients in suburban areas, by leasing space within neighborhood shopping centers and malls. These spaces leverage the availability of large and free parking fields, feature locations with access to major transportation networks and perform as a destination retailer that attracts new audiences into a center. Typical practice groups include primary care, pediatrics, physical therapy, orthopedic care and alternative care including chiropractic and massage therapy.
“Recognizing available space opportunities in surburban area retail centers, coupled with the desire to make physician and urgent care visits more convenient, health care organizations continue to alter the retail real estate environment with these specialized uses,” stated David Donato, Senior Vice President of Continental Realty Corporation. “In recent years, medical institutions began opening secondary locations in places where their patients were already visiting and targeted centers located in suburban areas to access larger populations. Due to certain consolidations and closings among grocery stores and big-box retailers, anchor and junior anchor tenant opportunities have become available to serve this use. The GBMC brand is extremely strong and recognized throughout the region, and their presence will increase consumer traffic at Padonia Village to the benefit of our existing merchants.”
Late last year, Green Valley Marketplace opened a nearly 32,000 square foot grocery store within Padonia Village and, earlier this year, Continental Realty Corporation signed an adddtional 10,941 square feet of space with three new restaurants -- Uber Bagels & Deli, Taco Bravo and Pho Tan My - as well as dentistry practice Charm City Smiles and a reflexology clinic.
Positioned at 61 E. Padonia Road near York Road, Padonia Village also includes CuVino restaurant, Cake by Jason and Bank of America. Nearly 42,000 vehicles pass the site on a daily basis and approximately 60,000 people, in 25,000 households, reside within a three-mile radius of the site, with an average household income exceeding $100,000.
Continental Realty Corporation (CRC) is focused on acquiring value-add retail and multifamily properties located throughout the Mid-Atlantic and Southeast regions of the United States. Headquartered in Baltimore and founded in 1960, CRC is a full-service commercial real estate and investment company. The privately-owned firm owns and manages a diversified portfolio of retail centers consisting of more than 4 million square feet of commercial space, as well as almost 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the portfolio's value exceeds $2 billion. For additional information, visit www.crcrealty.com
