Sherman Health Systems

"The entire project came in on-target and under budget."
 
Keith Golden
Administrative Director of Property / Project Management
Sherman Health Systems
Elgin, IL

LILLIBRIDGE DELIVERS MIX OF TENANTS TO SHERMAN HEALTH SYSTEMS

Sherman Health Systems, one of the largest networks of medical care facilities in the Chicagoland area, planned the construction of an integrated ambulatory care center to be connected to Sherman Hospital in Elgin, IL. The medical office space, approximately 30,000 sf on three separate floors within the overall development, would be reserved for independent physician tenants.
 
Prior to construction, Sherman needed to determine the physician demand for space and entrusted Lillibridge Advisors to identify, contact, lease and relocate a desirable tenant mix.
 
From Identification to Transition
 
Lillibridge surveyed comparable medical and commercial buildings in the area to identify market-supportable lease terms. Armed with this information and its own experience, Lillibridge reviewed and revised Sherman's existing "standard" lease form and prepared individual lease packages. By personally contacting all interested physicians, their advisory team not only assessed demand — but converted interest into actual leases.
 
The "relocation team" at Lillibridge worked in tandem with a medical space planner and contractor to ensure favorable tenant transitions and efficient space configurations. Outside vendors, Hospital staff, and Hospital services were coordinated directly with Lillibridge to accomplish a fluid move-in process.
 
Measurable Results
 
Shortly following construction completion, the physician space in the ambulatory care center was 100 percent leased and occupied by a desirable mix of physician tenants.
 
Market-representative lease negotiations and tenant improvement allowances attracted tenants that were willing to enhance Hospital-physician relations on a long-term basis.
 
"The entire project came in on-target and under budget," explained Keith Golden, Administrative Director of Property / Project Management at Sherman Health Systems. "More importantly, Lillibridge initiated and advanced permanent relationships between Sherman and our valued physician tenants."