Open House Held to Commemorate Building Completion
WASHINGTON, DC, April 8, 2021 – Trammell Crow Company, the nation’s largest commercial real estate developer, and Seavest Healthcare Properties, a leading investment manager focused on the medical office and outpatient facility sector, announced the delivery of Medical Pavilion II at National Harbor, a 97,000-square-foot, Class A medical office building. The advanced facility is located in National Harbor, a 300-acre master-planned community in Prince Georges County, MD.
The Pavilion serves Western and Southern Prince Georges County as well as the growing community in National Harbor. The Pavilion’s completion in December 2021 was commemorated with an open house on April 7 which included tenants of the building and members of the region’s healthcare and commercial real estate community.
Medical Pavilion II at National Harbor is adjacent to the National Harbor’s only other medical office building, the 95,000-square-foot Medical Pavilion I, which is also owned by Seavest. The building opened in January 2019 and is almost 90 percent leased with multiple tenants including the University of Maryland Medical System, many significant independent physician groups, and a surgery center.
Medical Pavilion II offers a front desk concierge, security, valet parking, covered patient drop-off and high-end finishes throughout, all in a patient friendly setting. Adventist HealthCare signed on as the building’s anchor tenant offering comprehensive specialty and preventative care services including an ambulatory surgery center and additional outpatient services to address critical healthcare needs in the community.
Full floors do remain available for interested parties. Adventist HealthCare plans to open doors to patients in mid-2023.
National Harbor is the ideal setting for providing healthcare services. It is easily accessible by car and mass transportation, has numerous retail and dining amenities, and provides a patient and care provider friendly experience.
“Seavest is pleased to reach this milestone in the construction of National Harbor II, which will be a significant ambulatory location for Adventist Healthcare,” said John Winer, Senior Managing Director & Chief Investment Officer at Seavest. “Convenient, accessible community-based healthcare has never been more important, and this facility will help Adventist bring advanced care to the residents of Prince George’s County. With National Harbor Medical Pavilion II joining the already open Medical Pavilion I, National Harbor will be the focal point for healthcare in southern Prince George’s County.”
“We are pleased to once again work with Adventist and Seavest on another state-of-the-art medical office facility. This project has substantially expanded the availability of healthcare services in Prince George’s County,” said Eric Fischer, Managing Director at Trammell Crow Company. “The services at Medical Pavilion II provide an important contribution to County’s residents, who will benefit from increased access to advanced medical services offer in a convenient setting.”
With the completion of Medical Pavilion II, Seavest now owns more than 350,000 square feet of Class-A ambulatory facilities in the Washington D.C. area.
National Harbor is a 350-acre mixed-use development on the banks of the Potomac River, about eight miles from downtown Washington, just south of the U.S. Interstate 295/495 Capital Beltway Outer Loop interchange. As with Medical Pavilion I, Medical Pavilion II is located in close proximity to the many desirable features of the popular waterfront development which includes commercial office space, 2,500 residential units, numerous hotels, more than 10,000 on-site parking spaces, and more than one million square feet of retail, dining and entertainment space.
The Cushman & Wakefield Washington D.C. Healthcare leasing team of Matt Sullivan, Lindsey Groom, Kirsten Ryan and Jack Seher lead the leasing efforts for the building.
For more information on Medical Pavilion II, visit nationalharbormedical.com.
About Seavest Healthcare Properties LLC and the Seavest Investment Group LLC
Seavest Investment Group, LLC is a real estate and social impact venture capital investment management firm. Seavest Healthcare Properties, an affiliate, focuses on investments in the medical office and outpatient facility sector. The firm acquires existing properties, joint ventures with established developers to build new properties, and asset manages medical office buildings, outpatient facilities and similar healthcare real estate assets. Seavest made its first healthcare real estate investment in 1989 and today has a significant portfolio of institutional quality, strategic medical office buildings and outpatient facilities located throughout the United States. For more information, please visit seavesthcp.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is the nation’s leading developer and investor in commercial real estate. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625million square feet. As of December 31, 2021, TCC had $18.5 billion of projects in process and $9.3 billion in its pipeline. It employs nearly 700 professionals in the United States and Europe.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, 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 the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (based on 2021 revenue). For more information visit trammellcrow.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit cushmanwakefield.com or follow @CushWake on Twitter.