Lexington office building makes a comeback

Tates Creek property left unfinished since recession revived by new owner

ssloan@herald-leader.comNovember 11, 2012 

An office building that sat unfinished for years along Tates Creek Road at Duval Street has been completed, and St. Joseph Outpatient Care Center occupies the first floor.

PABLO ALCALA — Lexington Herald-Leader Buy Photo

A partially built development along Tates Creek Road that sat unfinished for years has been completed.

The office building near the Duval Street intersection south of Man o' War Boulevard sat empty as a result of the recession.

Originally called Tates Creek Heights, the property was associated with Lexington developer James Edward Nuti, who later filed for bankruptcy protection.

At the time of a master commissioner's sale in 2009, the building's skeleton had been built, and it sat. And sat.

"It was nothing but an eyesore," said Ron Reaguer, president of the Village at Tates Creek Homeowners Association , which represents nearby residents.

He said homeowners saw homeless people living in the parking garage under the building.

Now, the building is finished and has a St. Joseph Outpatient Care Center as an occupant.

"It's been a blessing," Reaguer said.

Behind the building's completion is a company associated with Lexington developer Brett Setzer.

"The bones were there. It just needed to be built out on the inside," said Clay Angelucci, an agent with ACRE Commercial Real Estate, who has been involved since the building's purchase. "It's exciting. It proves there is growth in that south end. The demographics speak for themselves.

"We knew the building was going to be a success. It's sitting right there in an underserved section of Lexington."

The property fit the goal of St. Joseph's parent organization, KentuckyOne Health, to expand its health care centers beyond hospital campuses, executive Kelly Elkins said.

Elkins was responsible for St. Joseph's strategy and business development in Central Kentucky when the health care provider committed to the site.

Occupying the entire first floor of the two-story building, the outpatient center hosts three primary care physicians, and there might be a fourth in the near future, said Greg Giles, director of ambulatory operations and development.

It also has an array of diagnostic services, including X-ray, CT scan, ultrasound, bone density and digital-screening mammography, he said.

In looking for a second-story occupant, Angelucci said, the hope is to find an additional medical provider, "but we're looking at offices, too."

Scott Sloan: (859) 231-1447. Twitter: @HeraldLeaderBiz.

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