Those practices will move to the center, which will house the system's cardiology program, other specialists, and lab and wellness services, including diabetes education and yoga classes.
"We want to make it convenient - one-stop shopping," said Mark Nessel, Lourdes' chief operating officer.
Lourdes views Cherry Hill as the center of its service area, with the Brace Road site within five to 10 miles of most of its primary-care practices, said Kim Barnes, vice president of planning and development.
The site was "the real sweet spot," Barnes said.
Before its redevelopment, however, the property - left vacant after National Wholesale Liquidators declared bankruptcy in 2008 - was "really an eyesore," said Joe Gonnelli, president of Rosewood Real Estate Enterprises of Cherry Hill.
"If you had to put a bull's-eye in Cherry Hill somewhere, this is probably the bull's-eye location," Gonnelli said.
Lourdes approached Rosewood about building a center in the township about the time the Brace Road site was going up for auction, Gonnelli said.
Rosewood bought the property in July 2011 for $1.7 million and did a $12 million renovation, Gonnelli said. "We took down everything but two walls and the steel skeleton," he said.
Gonnelli estimated the building's total cost at $14 million. He said Lourdes, which is leasing the property from Rosewood, had moved in medical imaging equipment worth an additional $4 million.
"It's a pretty significant deal," he said.
While the investment associated with the project is substantial, just as important is the economic growth it will encourage, Cherry Hill Mayor Chuck Cahn said, noting the recent announcement that Whole Foods will move into the nearby Ellisburg Shopping Circle next year.
The center is "symbolic of all that we have done to work so hard to promote economic development," said Cahn, who has been mayor since January 2012. "I just think it's great to see that corner finally done and completed and vibrant again."
Contact Maddie Hanna at 856-779-3232 or mhanna@phillynews.com.
