Navigation Links
Cogdell Spencer Announces a $100 Million Development at St. Luke's Riverside Outpatient Campus In Bethlehem, Pennsylvania

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

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:
(Date:12/1/2015)... ... December 01, 2015 , ... Nurotron Biotechnology Co., Ltd., maker ... order to date. , The order will be from the China Disabled Persons’ ... Implant System is an effective solution for children and adults suffering from severe ...
(Date:11/30/2015)... ... November 30, 2015 , ... ... Brooke Bennett are collaborating with brands across various categories through traditional and social ... make up an elite group of Gold Medal Moms who can connect with ...
(Date:11/30/2015)... ... December 01, 2015 , ... The ... a 2015-2016 inductee into its VIP Woman of the Year Circle. She is ... leading networking organization exclusively for professional women, boasting 850,000 members and over 200 ...
(Date:11/30/2015)... Alexandria, VA (PRWEB) , ... November 30, 2015 ... ... Applied Research Foundation (Meso Foundation) released information for caregivers and held two webinars ... webinars are available on demand free of charge at . , ...
(Date:11/30/2015)... ... ... MOSI recently added two state-of-the-art augmented reality (AR) experiences from INDE Broadcast ... collection of interactive exhibits within the Kids In Charge! building. In collaboration with the ... closer than ever to a range of animals as they drink, sleep and play ...
Breaking Medicine News(10 mins):
(Date:11/30/2015)... 30, 2015   Royal Philips  (NYSE: ... of Radiology Solutions, a fully integrated, consultative approach ... customized, data-driven practice management approaches that combine imaging ... practices improve care delivery and reduce costs. Making ... of North America Annual Meeting (RSNA) in ...
(Date:11/30/2015)... 30, 2015 Nautilus Medical Inc. today announced ... platform ( ). The release of MatrixRay to ... 2015 (Radiology Society North America) in Chicago ... U.S. --> --> ... access to radiology studies worldwide via a peer-to-peer exchange ...
(Date:11/30/2015)... 30, 2015 (HK$,000)For the Six Months Ended 30 September 2015 2014RestatedChange%Turnover 545,575 ... , 421,979 , 384,242 , ... 34,719 , (18.3) Medical Insurance Administration Service ... 16.1 Medical Devices and Accessories Sales , 89,645 ... Herbal Medicines Sales , 2,822 , 2,917 ...
Breaking Medicine Technology: