Real Estate

Groundbreaking for Groundbreaking Research

By Teresa Kenney

On November 2, 2017, real estate developer Mortenson and Destination Medical Center (DMC) broke ground in Rochester on the first of several planned new facilities within the 16-city-block Discovery Square sub-district. The $5.6 billion DMC initiative will unite doctors and researchers on one campus to explore and bring innovative new discoveries to patients and the market faster. DMC is a public-private economic initiative with a 20-year plan to transform Rochester into a global destination for health and wellness.

The first phase of the project is a four-story, approximately 90,000-square-foot building located at the corner of Fourth Street SW and Second Avenue SW, near the Mayo Clinic downtown campus and adjacent to Mayo Clinic's Guggenheim, Hilton and Stabile buildings. It is scheduled to open in 2019. Mayo Clinic is the first anchor tenant and will lease 30,000 square feet.

"The DNA of this building and Discovery Square is the innovation, collaboration, and translation of science and discovery," said Mortenson chairman David Mortenson, in a statement. "A complementary tenant mix will have the opportunity to work alongside the best and brightest in Rochester on real-world, life-changing solutions. It will enhance connectivity and enable high-level collaboration to share ideas and test and deliver new products. We are truly excited about the purpose of this facility, its programming and its role within the greater Destination Medical Center vision."

Source: Mortenson