Lillibridge opens third on-campus MOB for Inova Fair Oaks Hospital

INOVA FAIR OAKS III MEDICAL OFFICE BUILDING IS NOW OPEN

CHICAGO IL and FAIRFAX VA, Jun-10, 2009 – Residents of Fairfax, Va. are benefitting from expanded medical services now that the Inova Fair Oaks III medical office building (MOB) has opened on the campus of Inova Fair Oaks Hospital.

When Inova Fair Oaks Hospital needed more medical office space they called on Lillibridge, who has partnered with them on two previous medical office buildings and has helped the hospital work with physicians and structure physician partnerships.

"Lillibridge has a great reputation as a healthcare real estate developer and has an excellent working relationship with our physicians," says Todd McGovern, Senior Director of Operations and Business Development for Inova Fair Oaks Hospital. "We're glad to have worked with a company with their level of expertise."

The four-story, 107,000 square foot facility was developed by Lillibridge, one of the nation's largest private healthcare real estate firms. The MOB is located at 3620 Joseph Siewick Drive and is attached to the hospital via a covered walkway.

Along with a large new outpatient surgery center, the building will house orthopedics, general surgery, bariatric surgery, cardiology, otolaryngology, rheumatology, gastroenterology and internal medicine practices along with a diagnostic imaging center.

The new MOB keeps the hospital on pace with the increasing northern Virginia population and helps satisfy local physician demand to practice on the hospital's grounds. "Our office buildings at this campus have been fully utilized for the last several years," says Mark Stauder, Inova Health System Chief Operating Officer, who says this third building comes "at the physician's request."

 "We've had a very strong relationship with Inova Fair Oaks Hospital for many years and we're excited about the opening of Inova Fair Oaks III," says Lillibridge Chairman and CEO Todd W. Lillibridge. "We have a great deal of experience working with physicians on joint ventures, and that expertise has served us well in the development projects that we've done with Inova."

Seavest Inc., an investment management firm will own the new facility in a joint venture with physicians.