Huge Healthy News for Frederick - New Location, New Name
Fitzgerald Realty Group, Inc. assisted Frederick Health in the acquisition of its new destination located on the growing north side of Frederick. The asset was purchased for $18.5 million ($48/SF) representing real value for the health care provider. The newly named Frederick Health Village will provide wellness services including the new Frederick Health Call Center, components of Information Technology services, home health care, housing hospice services, as well as some administrative offices.
“This is a win-win for Frederick Health and the greater Frederick community,” said Jim Fitzgerald, Founder and President of Fitzgerald Realty Group who was directly involved in the negotiations. “Not only was this a smart business decision, it gives Frederick Health the opportunity to expand and refine its services to meet the growing health care needs of the local community far into the future,” he added.
Future opportunities will allow the hospital to expand its cardiac catheterization lab, and upgrade both the ER and intensive care unit. Other plans may include Patient Education, Community Event Services, and Employee Education and Training. A team of approximately 250 employees will initially move to the campus so they can deliver home based healthcare while visiting patients at their residence.
The Frederick Health Village plans to open by next spring. The campus features a 387,000 SF facility including a 20,000 SF warehouse and 9,300 SF data center with 1,600 parking spaces on 93 acres. This new centralized hub will serve as the company’s operations headquarters, give staff the space required for wellness services and outpatient medical care, and route questions and requests to the new call center.