The Lake Erie College of Osteopathic Medicine has purchased the Erie bayfront headquarters of RentWay Corporation. LECOM will pay $4.26 million for the three story, 73,000 square foot office building and nearly 16 acres of waterfront property. The property also includes a 2000 square foot caretaker’s house, 234 paved parking spaces and access to Presque Isle Bay. The location has easy access to the Erie Bayfront Parkway and Interstate 79.
The College will use the building to house offices and classrooms for expanding post-graduate programs, education research and clinical services.
Dr. John Ferretti announces purchase of
property for LECOM Bayfront Campus
“This building is move-in ready,” said LECOM President John M. Ferretti, D.O. “The building is furnished and equipped with technology that’s appropriate for this day and age in medical education.”
LECOM Chairman of the Board of Trustees, Michael Visnosky, Esq., said, “this is a continuation of LECOM’s commitment and investment in the city of Erie that began in 1992 with the opening of the college of osteopathic medicine, later the school of pharmacy and more recently the Plaza 18 medical teaching center in Little Italy.”
The LECOM Graduate Studies Program will move to the bay front campus where the college will conduct classes for the Master of Science in Medical Education. The facility also will provide class space for future graduate degrees.
LECOM closed on the property this morning and will occupy the building this fall.
The Lake Erie Consortium for Osteopathic Medical Training (LECOMT), which oversees LECOM intern and residency programs, will relocate from the West Grandview Boulevard campus to the bayfront. LECOMT started with one teaching hospital in 1998 and now works with 30 hospitals in seven states training more than 600 new physicians each year.
The corporate offices of Medical Associates of Erie (MAE), LECOM’s physician practice plan, will occupy part of the building. MAE manages physician offices throughout Erie County providing medical specialties that include: Family Practice, Orthopedics, Obstetrics & Gynecology, Ophthalmology, Internal Medicine, Pediatrics, Geriatrics and General Surgery.
In addition to LECOM and its affiliates, Vantage Health Care will be the first tenant in the building. According to Vantage CEO Jerry Alonge, “Vantage is pleased to be working with LECOM in the role of managing the building and as the first tenant in what will be an ideal location for office space. Our intent is to locate our telecom technology center here and to have access to space to support our growth. This expands our presence in Erie and we look forward to growing with Erie in the future".
The property has a long Erie history from when it was part of the Strong family estate to the early 1970s when Zurn Corporation moved the company’s corporate headquarters to the site. RentWay expanded the building and occupied the site until Rent-A-Center purchased the company and closed the building last fall; and now, LECOM will be the new owner.