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:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star ... , Millions of individuals in the United States and Canada wear eyeglasses. Once considered ... both correct vision and make a fashion statement. Even celebrities use glasses as a ...
(Date:6/26/2016)... ... , ... Brent Kasmer, a legally blind and certified personal trainer is helping to develop a ... fitness app plans to fix the two major problems leading the fitness industry today:, ... type program , They don’t eliminate all the reasons people quit their exercise ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, ... Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms ... Final Cut Pro X . Simply select a ProHand generator and drag it above ...
(Date:6/25/2016)... Canada (PRWEB) , ... June 25, 2016 , ... Conventional ... pursuit of success. In terms of the latter, setting the bar too high can ... risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... ... 24, 2016 , ... The Pulmonary Hypertension Association (PHA) learned ... receive two significant new grants to support its work to advance research and ... by recognizing patients, medical professionals and scientists for their work in fighting pulmonary ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016   Bay Area ... Network,s Dean Center for Tick Borne Illness ... and Rehabilitation, MIT Hacking Medicine, University of California, ... today announced the five finalists of Lyme ... disease.  More than 100 scientists, clinicians, researchers, entrepreneurs, ...
(Date:6/24/2016)... 2016 Dehaier Medical Systems Ltd. (NASDAQ: ... markets and sells medical devices and wearable sleep respiratory ... strategic cooperation agreement with Hongyuan Supply Chain Management Co., ... June 20, 2016, to develop Dehaier,s new Internet medical ... Dehaier will leverage Hongyuan Supply Chain,s sales platform to ...
(Date:6/24/2016)... Mass. , June 24, 2016   Pulmatrix, ... pharmaceutical company developing innovative inhaled drugs, announced today that ... Russell Investments reconstituted its comprehensive set of ... "This is an important milestone for Pulmatrix," ... will increase shareholder awareness of our progress in developing ...
Breaking Medicine Technology: