Flagship Healthcare Properties has spent $1 million to acquire a site in Mechanicsville, Va., where it plans to construct a $19 million medical office building, according to a May 23 report from Richmond BizSense.
The proposed building will be two stories and total 38,000 square feet. The project is expected to break ground at the end of 2024 or the beginning of 2025.
Flagship also plans to build a second, 35,000-square-foot medical building on the same site at a later date, according to the report. The two-building development will be called Bell Creek Medical Pavilion.
Flagship currently owns more than 100 properties across 11 states and manages 300 properties across 19 states.