Valley Health announces sale of Cork Street property

Daily Staff Report

Valley Health System announced Tuesday that it would sell the property that previously housed Winchester Medical Center in downtown Winchester.

The property at 333 W. Cork St. has been sold to HealthCare Development Partners, a nationally recognized health care real estate development company based in Chicago, according to news release from the hospital,

Dating from 1964, the 5.85-acre property with a seven-story building and five parking lots has housed a variety of health-related services since the medical center’s relocation to its Amherst Street campus in 1990. The largest presence has been Winchester Rehabilitation Center, which provided inpatient medical rehabilitation for the medical center and outpatient physical, occupational and speech therapy services.

Blue Ridge Hospice has its offices and an inpatient unit on one floor, and Shenandoah University’s graduate programs in physical and occupational therapy previously were based there.

Other tenants include Rehabilitation Practitioners Inc., a prosthetics and orthotics maker; Virginia Blood Services, AIDS Response Effort and Valley Health physician practices and offices, including human resources and marketing.

All current Valley Health tenants plan to keep their offices in the building, and Valley Health plans to lease back from HD Partners about 66,766 of the building’s 218,868 square feet of space, having negotiated a 10-year lease with renewals for space. The release stated Valley Health plans to procure the Certificate of Need for the new Valley Surgery Center.

During the last 10 years, Valley Health has been exploring alternative uses for the former hospital, and the release quoted M. Todd Way, senior vice president for Valley Health, saying the sale is part of a goal “to maximize the deployment and use of our physical assets and promote an appropriate facility plan for the future.”

The review of the property’s uses to Valley Health included “an assessment of currently owned and leased facilities, future building plans, space needs, facility inventory, and more,” he said.

The sale followed Shenandoah University’s decision about two years ago to relocate its allied health programs to its existing Health Professions Building on the medical center campus and construct a Health Sciences Building on its main campus for its undergraduate nursing program.

The site has been a part of the hospital’s organization since 1903 when Winchester Memorial Hospital opened on the corner of Stewart and Clifford streets, Valley Health President and CEO Mark H. Merrill stated in the release.

“We look forward to seeing it regain vitality for the benefit of the community,” he said.

The building’s new owner plans to renovate and modernize the building, with focus on providing health care services.

Direct leasing inquiries to Gillian Greenfield at 540-504-0790.

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