Dan Miranda, President, HSA Commercial Real Estate, and John Wilson, President, HSA PrimeCare, announced that HSA PrimeCare has signed a long-term agreement with SIlver Cross Hospital to develop and own a 56,000-square-foot medical office buliding in New Lenox, IL., to be called the Silver Cross Health Center and Professional Building. The new medical office building already is over 90% pre-leased.
The new facility will be part of Silver Cross Hospital Campus, located just west of the new I-355 extension at the intersection of Route 6 and North Clinton Street in the heart of New Lenox in Chicago’s southwest suburbs. Located near a 600,000-square-foot replacement hospital being constructed by Silver Cross, the two-story medical office is designed to accommodate contemporary medical technology. Pre-leased tenants will assume occupancy in August 2009, when construction is scheduled for completion.
“Our partnership with Silver Cross Hospital will provide new opportunities to serve the residents of this fast-growing areal of Will County,” said Miranda, underscoring the economic benefits the new medical campus is expected to bring to the residents of New Lenox and surrounding areas. “The completion of the I-355 extension will spur a tremendous amount of growth, bringing with it an increased need for state-of-the-art medical facilities such as this one.”
“HSA PrimeCare is pleased to include Silver Cross in our growing list of premier hospital partners in the Midwest,” said Wilson.
An aggressive pre-leasing was launched during the initial planning stages of the project. Under the leadership of Rober Titzer, Executive Vice President, HSA COmmercial Real Estate, tenants have signed leases for more than 47,425 square feet of space in the new medical office buliding and enabled the project to move forward.
Signed tenants are:
- Children’s Memorial Hospital, 13,000 square feet on the first floor;
- Hinsdale Orthopeadic Associates, 13,520 square feet on the first and second floors;
- Silver Cross Breast Center, 6,4000 square feet on the first floor.
- Dr. Tim Kisla, Advanced Eye Care SC, 4,635 square feet on the first floor
- Drs. Garcini, Pierre and Ka-Widmann, Partners in Obstetrics and Women’s Health 4,7000 square feet on the second floor; and
- Drs. Lelis, Hashmi, and Rassouli, Spectrum Eye Institute, 5,170 square feet on the second floor.
HSA PrimeCare, an operating division of HSA Commercial Real Estate, is focused on real estate assets for the healthcare industry and is a leading developer and manager of medical office bulidings in the midwest, with a portfolio of properties totaling more than 700,000 square feet and valued at over $160 million.
Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, retail, and health care real estate leasing, management, marketing, development and financing on a national basis. Along with developing and acquiring more than 40 million square feet of commercial real estate across the United States, with a total consideration in excess of $2 billion, HSA Commercial Real Estate has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio in excess of 15 million square feet in locations across the nation; and owns more than 17 million square feet of commercial property in 14 states.