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Capital Business
Posted at 05:59 PM ET, 01/15/2013

Adventist HealthCare is negotiating a deal to sell 40 acres in Clarksburg

Adventist HealthCare is negotiating a deal to sell 40 acres in Clarksburg that it once envisioned as a hospital and medical campus.

Multiple shopping center developers are vying for the property.

The land, located off of Interstate 270 near the intersection with Clarksburg Road, was part of about 120 acres where Adventist sought approval to to build Clarksburg Hospital and Medical Campus, which executives said would serve upper Montgomery County and lower Frederick County.

In a bitterly contested decision, however, the Maryland Health Care Commission opted to instead approve a Holy Cross Hospital in Germantown, which is currently under construction.

With their plans rejected, Adventist began marketing 40 acres on the northern end of the site. Last week, according to county officials, William G. Robertson, president and chief executive of Adventist HealthCare, began informing stakeholders that Simon Property Group, the country’s largest operator of malls, was the likely buyer.

Montgomery County Council member Craig Rice, whose district includes Clarksburg, said Simon representatives were scheduled to present their plans to him Wednesday. He said he was supportive of adding new shopping options to the area but wanted to see what the company envisioned.

“I need to make sure that there’s a synergy — it’s not okay to just throw retail somewhere,” he said.

A shopping center on the site would likely compete with what the Fairfax-based Peterson Cos. have been planning in the area around nearby Ten Mile Creek. However, the Peterson Cos., developers of National Harbor, also bid for the Adventist site. Peterson executives confirmed the company’s bid but declined to comment, citing confidentiality agreements.

Among the hundreds of malls Simon owns are the Mills regional shopping centers, including Arundel Mills in Hanover and Potomac Mills in Woodbridge. Les Morris, spokesman for Simon, said Monday he would look into the matter but then did no return phone calls or e-mails.

Adventist spokesman Thomas Grant said Adventist still planned to build outpatient care facilities in Clarksburg but declined to say whether a developer had been selected as a buyer for the 40-acre site.

“Adventist HealthCare has had discussions with residents, the business community and Montgomery County about selling a portion—approximately 40 acres—of our Clarksburg land off Interstate 270,” Grant said in an e-mailed statement.

“We are in negotiations regarding this portion of our property and cannot comment further,” he added.

Follow Jonathan O’Connell on Twitter: @oconnellpostbiz

By  |  05:59 PM ET, 01/15/2013

Tags:  Adventist HealthCare, Simon Property Group, Peterson Cos., commercial real estate

 
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