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71% of Mixed Use Villlage Square Now Occupied
Washington U. Physicians to Open
Clinic at Hazelwood’s Village Square
71% of Mixed Use Center Now Occupied
SomeraRoad Inc., a Nashville and New York-based commercial real estate investment and development firm, announced early this month that it has signed a lease with Washington University to anchor Village Square, a 217,000 sq. ft. mixed-use property located in Hazelwood.
Washington University Physicians plans to utilize the 25,000 sq. ft. space as a multispecialty clinic and administrative services department. Construction is expected to begin by the end of this year and be completed by Fall 2022.
“ The Department of Medicine is pleased to be expanding our clinical services in North County,” said Victoria Fraser, MD, head of Washington University’s Department of Medicine. “Our goal is to make our subspecialty care more accessible to patients closer to where they live. We are committed to improving the health of the community and becoming part of the community.”
This announcement comes on the heels of SomeraRoad completing over $4 million of building improvements to modernize the Village Square property located at Lindbergh Boulevard and Interstate 270. The improvements include a $2.2 million renovation to the building’s façade, replacing building systems such as roofs and HVAC, two new multi-tenant monument signs, substantial improvements to the parking lot, new landscaping throughout, and retrofitting the property’s lights to LED.
This news follows several other tenants that recently opened for business at Village Square. These tenants include Dollar Tree, Axes Physical Therapy, Millstone Weber, Colour Salon, and No Basic Chic, in addition to Push Fitness, which is expected to open by year-end.
As a result, Village Square is now 71% occupied, up from just 41% occupancy when SomeraRoad acquired the property in 2018, and several new, complementary leases are currently being finalized.
“We set out to deliver a thoughtful mix of medical uses, local and national retailers, and a wide array of service providers who can collectively serve the needs of the North County market”, said Andrew Marchetti, vice president with SomeraRoad. “
Washington University’s long-term commitment is further evidence that Village Square has become a destination for businesses and customers.”
“We are excited to see SomeraRoad bring Village Square back to life”, said Hazelwood City Manager Matt Zimmerman, City. “To have Washington University, a world-renowned institution, as an anchor is a key part of the redevelopment of Village Square. SomeraRoad is a great community partner for Hazelwood and we look forward to continuing to partner with them on future endeavors while building a relationship with Washington University.”
