Mercy Hospital Miami

"Lillibridge has been working with the hospital to develop tenant strategies to support hospital growth."
 
John Hazel
SVP of Administrative Services
Mercy Hospital
Miami, FL

MERCY HOSPITAL AND LILLIBRIDGE MAXIMIZE POTENTIAL OF MOBs

Selling its two medical office buildings to Lillibridge allowed Mercy Hospital Miami to redirect capital and sharpen its focus on enhancing its centers of excellence, including cardiology and oncology. Since then, Lillibridge has been helping Mercy achieve other strategic goals.
 
"Lillibridge has been working with the hospital to develop tenant strategies to support hospital growth," explains John Hazel, Mercy's senior vice president of administrative services. "They have demonstrated their ability to work effectively with physicians."
 
Working for Growth
 
Lillibridge has collaborated with the hospital and physicians to accommodate practice expansion and the addition of new practices in the two buildings, both of which now have tenant waiting lists. Lillibridge also helps the primary tenants find subtenants to lease in their suites to maximize useful space. As a result, the two buildings now are full and have 160 tenants, compared to 80 percent occupied with 100 lessors when Lillibridge acquired them.
 
Improving the Properties
 
Lillibridge also has made significant investments to upgrade the buildings —
 
- Refurbished all common areas


- Modernized one building's elevator system


- Ensured compliance with handicapped access requirements
 
"There was a lot of deferred maintenance because the office buildings were competing with other capital needs of the hospital," says Hazel. "With Lillibridge, real estate is their business."