Fitzgerald Realty Group Negotiates Major Acquisition for Frederick Health

FREDERICK, Md., Nov. 8, 2019 /PRNewswire-PRWeb/ --A With a 387,000A± square foot office building, 1,600 parking spaces and 20,000A± square foot warehouse, the property is one of the most significant to change hands in Frederick County in many years.The State Farm campus on Monocacy Boulevard in Frederick will soon to be buzzing with activity again thanks to Fitzgerald Realty Group's assistance in helping Frederick Health acquire the site.The site was valued at $38 million in January of 2018. It just closed at $48 per square foot or around $18 million, representing real value for the health care provider.The newly named Frederick Health Village will allow Frederick Health to move its call center, home health care services and hospice, among other administrative offices to the site plus plan for further expansion in the future. Frederick Heath Hospital will not be moving from its location in downtown Frederick, but will gain some "breathing room" with the relocation of those units. Next year, the hospital plans to expand its cardiac catheterization lab and upgrade both the ER and intensive care unit.
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