A decade after the Copper Ridge professional office and retail complex first opened, growth is on the minds of the developers once again.
“Our issue is there is no space to lease or sell that’s already built,” says developer Rick Deneweth. “But we’re getting close to pulling the trigger. The demand is there. I have medical people coming to me.”
Just five minutes from Munson Medical Center on Traverse City’s western edge, the complex has seen a heavy medical presence develop over the years.
“This development wouldn’t have happened if it wasn’t for the Northwest Michigan Surgery Center,” says Deneweth. “It was the anchor that made the project feasible.”
A joint venture with Munson Healthcare and 38 physician/owners, today the Surgery Center handles 20,000 outpatient cases annually and posts annual revenue of $25 million.
Beyond the Surgery Center, the majority of space at Copper Ridge has been filled by private medical practices or medical-related services in Professional Centers A, D and E. Munson Medical Center occupies all of Professional Center E in addition to its Smith Family Breast Health Center.
What has been the attraction by the medical community? The Class A professional office space and the ability to invest in the development via ownership, Deneweth says.
“Most of the doctors here are owners,” he says, and that has been a critical component of the development’s reputation. “That’s a plus and the reason people are here for the long-term. That commitment has been critical.”
Building pads for three more professional centers – B, C, and F – are all approved for 30,000 square-foot, two-story buildings. Space for future retail in the Marketplace is also available, joining Northern Vision Eye Care, Anytime Fitness, Fast Fitness and Fast Physical Therapy and The Prescription Shop.
Which “pad” gets developed next completely depends on use, says Deneweth. “We just need one or two key groups to commit,” he adds.
However, Traverse City’s next big medical project – the new $45 million Cowell Family Cancer Center, will not be calling Copper Ridge home. Though early discussions explored the possibility of locating the center there, Munson officials ultimately decided to build the 86,000 square foot facility adjacent to Munson.