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However, he pointed to “the sluggish U.S. economy, healthcare policy uncertainty and the immediate pressures on quarterly revenues” as barriers to meeting its internal leasing targets.

The project had been designed to bring together showrooms, exhibition halls and education and training space, and leases had been signed by companies offering services ranging from claims and supply-chain management to surgical technology and healthcare furniture. The Healthcare Information and Management Systems Society was the first major exhibitor to join the project and was expected to help draw other firms to the center.

New material starts here: The Nashville Medical Trade Center also faced de facto competition from the Cleveland Medical Mart and Convention Center, which is scheduled to open next July. In a statement, Jim Bennett, senior vice president at MMPI, the Cleveland Medical Mart's Chicago-based developer, called Cleveland “the nation's medical capital,” and reaffirmed the timeline for the $465 million, 1 million square foot property, on which construction has already started.

He noted that the project's Industry Advisory Board includes companies such as Cardinal Health, Cisco Systems, GE HealthCare Systems, IBM, the Cleveland Clinic and Medtronic, among others. And he added that the medical mart has collected 20 signed leases to date, accounting for 40% of the space, and is in discussion with another 60 potential tenants.

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