Inova Acquires Springfield Site As It Continues To Expand Hospital Footprint
Inova Health System has acquired a piece of land in Springfield to grow its hospital campus, one of multiple expansions it is launching throughout the region.
The health system announced Thursday it acquired a 9-acre site on Lewin Drive, near its Franconia/Springfield HealthPlex, from Monument Realty.
It did not disclose the sale price, but the Washington Business Journal reported it traded for $25M. Avison Young's Dave Millard and Peter Berk represented Inova in the deal.
The deal comes after Inova in January acquired a nearby 4-acre site from Monument for $16M, the WBJ reported, and the health system already owned about 8 more acres near the sites.
Inova plans to combine the sites to construct a new acute-care facility next to the Franconia/Springfield HealthPlex. It said it will finalize the details for the project in the coming months.
“This additional land provides unlimited opportunity for programs, services, and facilities that support our mission to provide world-class healthcare to every patient we have the privilege to serve,” Inova President Stephen Jones said in a release.
Inova is also planning a major new healthcare facility on the 117-acre former Exxon Mobil campus in Merrifield, which it acquired in June for $182.5M. That property sits across Gallows Road from the Inova Fairfax Hospital and Inova Children's Hospital.
The health system is also planning a new facility in Alexandria. In March, it reached an agreement with Stonebridge to build a new healthcare facility that would anchor the developer's 13-acre Potomac Yard project.
