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11/05/2014 - VCU HEALTH SYSTEM TO OCCUPY 5-STORY STANLEY SHIELD MEDICAL DEVELOPMENT IN TOWNE CENTER WEST

VCU Health System to occupy 5-Story Stanley Shield Medical Development in Towne Center West

FOR IMMEDIATE RELEASE

NOVEMBER 5, 2014

RICHMOND, VA – The Breeden Company is pleased to welcome VCU Health System to Towne Center West in Short Pump, VA.  Shortly after the Stanley Shield partnership announced their plan for the $38 million healthcare development a year ago, they were approached by many medical groups – including future tenant VCU Health System.  Breaking ground last week, the 110,000 sq. ft., 5-story medical building will include “an integrated, multi-specialty physician practice supported by state-of-the-art diagnostic and therapeutic modalities” according to a statement provided by VCU Health System.

Stanley Shield managing member, Jimmy Stanley, explained the trend in the last 5 years from the medical community of bringing healthcare facilities closer to more urban centers occupied by restaurants, hotels and retailers.  Being in this “front-and-center” location provides accessibility to potential patients who frequent the centers.  In addition to having a large hotel, many restaurants and retailers at Towne Center West, the center is part of a Breeden Co. master development that includes over 800 apartments. 

At Towne Center West, big names like The Hilton Hotel (which includes Shula’s Steakhouse and Aura Salon and Spa), Virginia Eye Institute and Ethan Allen have been long-term tenants and in the past year the 40-acre space has almost reached commercial capacity. BJ’s Brewhouse & Restaurant, a large restaurant and brewing chain from southern California, also opened their doors a few weeks ago.  Adding in the two luxury apartment complexes that share the land, totaling 842 units between Reflections at West Creek and Marshall Springs at Gayton West, there seems to be sound reasoning behind Mark Pendleton, President of Breeden Realty, calling the move the “Short Pump Surge”.

Phase II from Stanley Shield includes the two parcels adjacent to the large VCU Health System building.  Their plan is to develop a 75,000 sq. ft., 3-story single building on the land, bringing the entire development to 185,000 sq. ft.  As the building can be used for either general office or medical, Stanley Shield has received interest from a variety of groups interested in the Phase II development, expected to begin construction Summer 2015.  Interested parties should reach out directly to Stanley Shield. 

VCU Health System also recently announced a $75 million investment to add Community Memorial Healthcenter in South Hill, VA to their operations.  According to Stanley Shield, the VCU Health System Towne Center West location should be completed by the end of 2015 and includes the following partnerships:

Architect: Ratio, PC

Site Engineer: Willmark Engineering

Contractor: Hourigan Construction

Stanley Shield Medical Building - artistic rendering

Stanley Shield Towne Center West Site Map

ABOUT THE BREEDEN COMPANY:

The Breeden Company is a nationally recognized real estate services company with over 50 years of expertise in every facet of the industry.  Breeden Property Management, Breeden Realty and Breeden Construction are the three major subsidiaries of The Breeden Company, with a combined portfolio of nearly 10,000 apartments units, over 2 million square feet of retail and office space and an additional 1,700 residential homes.  Both Breeden Property Management and Breeden Construction are national award winners on their own merit and provide third party services to select clients.  Family-owned and operated since 1961, The Breeden Company has grown into one of the most valued real estate development firms on the East Coast.

Media Contact:

DANA E. WILSON

PUBLIC RELATIONS MANAGER

DANAW@THEBREEDENCOMPANY.COM

(757) 486-1000