Navigation Links
Cogdell Spencer Announces a $100 Million Development at St. Luke's Riverside Outpatient Campus In Bethlehem, Pennsylvania
Date:12/27/2007

CHARLOTTE, N.C., Dec. 27 /PRNewswire-FirstCall/ -- Cogdell Spencer Inc. (NYSE: CSA) announces the signing of a new development agreement with St. Luke's Hospital and Health Network of Bethlehem, Pennsylvania to develop the first phase of their Riverside Outpatient Campus. The 383,000 square foot project will consist of a cancer center, an outpatient healthcare pavilion, and two medical office buildings.

The two medical office buildings are valued between $35 and $40 million and will be owned in a single investment entity by Cogdell Spencer and physician investors. The balance of the project will be developed by Cogdell Spencer but owned by St. Luke's. St. Luke's hospital will be the primary tenant of the combined project.

The $100 million project is scheduled for completion during the third quarter of 2009. Ground breaking will begin immediately.

The St. Luke's Riverside Campus first phase new medical facility will be located on 55 acres at Freemansburg Avenue and Route 33, approximately 5 miles from the main St. Luke's hospital campus. The project was previously announced at an onsite ceremony late in the 3rd quarter of 2007.

"Cogdell Spencer and St. Luke's Hospital are pleased to bring the quality of care and patient convenience this state-of-the-art medical office park will offer to Bethlehem Township and the Northampton County area," notes Devereaux Gregg, Vice President of Development for Cogdell Spencer Inc.

This new development with St. Luke's Hospital marks a new client and a new market for Cogdell Spencer. The relationship with St. Luke's Hospital furthers the company's strategic plan of aligning with dominant, non-profit hospital systems with strong local decision making.

"We believe this type of relationship will be the norm for Cogdell Spencer going forward," said CEO Frank Spencer. "Combining investment for our own account with fees for broader development services provides our clients with comprehensive project delivery and our shareholders with enhanced returns."

This project will mark the second major development relationship in Pennsylvania for Cogdell Spencer. Earlier in 2007, the company completed two new on-campus projects with the Lancaster General Hospital of Lancaster, Pennsylvania. As part of the company's commitment to the eastern Pennsylvania market, Cogdell Spencer will be opening a full-service development and property management office in Bethlehem, Pennsylvania.

Wilmot/Sanz, Inc. of Gaithersburg, Maryland is the architectural firm on the project.

About Cogdell Spencer Inc.

Charlotte-based Cogdell Spencer Inc. (NYSE: CSA) is a fully-integrated, self-administered and self managed real estate investment trust (REIT) that invests in specialty office buildings for the medical profession, including medical offices, ambulatory surgery and diagnostic centers. At present, the Cogdell Spencer Inc. portfolio consists of 59 wholly owned properties, five joint ventures and 57 managed medical office buildings. For more information on Cogdell Spencer Inc., please visit the Company's website at http://www.cogdellspencer.com.


'/>"/>
SOURCE Cogdell Spencer Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Cogdell Spencer Inc. Acquires Summit Professional Plaza I and II in Brunswick, Georgia
2. Cogdell Spencer Inc. Reports Third Quarter 2007 Financial Results
3. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
4. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
5. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
6. HEI, Inc. Announces Sale of RFID Division Assets
7. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
8. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
9. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
10. Brooke Franchise Corporation Announces Selected July Results
11. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/24/2017)... , ... April 24, 2017 , ... My T Chai, ... its products are now available for purchase on RevNutrition.com, a popular website specializing in ... first produced and popularized in ancient India and Siam. It spread across Asia and ...
(Date:4/24/2017)... ... April 24, 2017 , ... symplrTM, a leading ... today announced that Kyle Allain has joined the company as Vice President and ... operations, including provider, payor and managed care solutions. , A seasoned executive ...
(Date:4/24/2017)... ... 24, 2017 , ... In 2017, up to 78,000 new ... of them will be malignant.(1) As research into precision medicine continues, both patients ... in the diagnosis and treatment of brain tumors. Healthcare facilities that are already ...
(Date:4/24/2017)... ... 2017 , ... Rod Burkett, CEO of Gardant Management Solutions, was recently featured ... at the forefront of Gardant since it was founded in 1999. His drive and ... of more than 40 new senior living communities. With his leadership, Gardant has grown ...
(Date:4/24/2017)... ... ... As a former supermodel known for her timeless beauty, Joan Severance knows ... is that she put all the words in her new book, "Manifest Your Mate: ... and sparkling sense of humor have inspired her to write a book on how ...
Breaking Medicine News(10 mins):
(Date:4/20/2017)... , April 20, 2017  Cogentix Medical, ... focused on providing the Urology, Uro/Gyn and Gynecology ... that Ash Keswani has joined the Company as ... this newly created position, Mr. Keswani will report ... CEO. "Our organization is delighted that ...
(Date:4/20/2017)... -- Research and Markets has announced the addition of ... Expanding Injectables Market and Increasing Usage of Complex Biologics during the ... ... from USD 20 Billion in 2015 to around USD 26 Billion ... Innovation Driven by Rapidly Expanding Injectables Market and Increasing Usage of ...
(Date:4/20/2017)... Eyevensys, a private biotechnology company ... expression technology that enables the safe, local, sustained production ... wide range of ophthalmic diseases, announces it has received ... Agency (MHRA) to advance its technology into clinical development. ... The EyeCET ...
Breaking Medicine Technology: