CONSTRUCTION BEGINS ON NEW MEDICAL OFFICE BUILDING

EDINA, MINN. —Twin Cities Orthopedics (TCO) and Hegenes Management have commenced development of Crosstown Medical Center, a four-story, 75,000-square-foot medical office building in Edina. NorthMarq Healthcare Advisory Group provided strategic counsel and transaction services for TCO; Stephen Brown of NorthMarq Healthcare Advisory Group helped TCO identify the 2-acre site, which is adjacent to Highway 62 and Fairview Southdale Hospital. Hegenes was represented by Bill Rothstein of NorthMarq Brokerage. In the process, TCO and property owner Hegenes formed a joint venture and will both retain ownership of the center. RJM Construction is handling the construction of the building and five-story parking structure; completion is expected in 2010.