SIMSBURY, CT-After a delay necessitated by October’s surprise snowstorm, the Keystone Cos. will officially break ground Wednesday on its Dorset Crossing site. The multi-use development will include 50,000-square-feet of class A medical space, spread across three buildings.

A source tells GlobeSt.com that the development cost could reach $40 million, though the additional approval required to expand the development and add residential components is pending review by the town of Simsbury.

Of the buildings underway now, Saint Francis Hospital and Medical Center, as anchor tenant, will lease 10,000 square feet of space in one. The company’s president and CEO, Christopher Dadlez, said in a prepared statement that the development would “offer the residents of Simsbury and surrounding towns access to world-class physicians, as well as the possibility of a premiere urgent care facility.”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.