HSA PrimeCare Breaks Ground on 40,000 SF Medical Office Building on Silver Cross Hospital Campus in New Lenox, Ill.


HSA PrimeCare broke ground on a 40,000-square-foot medical office pavilion on Silver Cross Hospital’s campus in New Lenox, Ill., immediately west of the I-355/I-80 interchange. Scheduled for completion in December 2019, the state-of-the-art facility will house the hospital’s urgent care, occupational health and primary care clinics, among other medical tenants, and will be situated on the west side of campus on Silver Cross Boulevard, just south of the new Silver Oaks Behavioral Health Hospital.

“Silver Cross is very excited to offer urgent-care services on the hospital campus as a faster, easier alternative to the emergency room for the treatment of minor injuries and illnesses,” said Molly Brusca, administrative director of physician relations at Silver Cross Hospital.

Silver Cross Urgent Care will offer patients prompt care and treat myriad conditions — from the common cold and flu to infections, minor burns and allergic reactions. Patients will be treated by a licensed clinical practitioner and will enjoy convenient hours and easy access to other on-campus medical services. Housed in the same building, Silver Cross’ occupational health and primary care clinics will provide additional healthcare services.

“We are pleased to once again assist Silver Cross Hospital with the continued expansion of its hospital campus,” said John Wilson, president of HSA PrimeCare. “With the existing buildings approaching full capacity, it’s the ideal time to develop yet another cutting-edge facility that will give additional healthcare providers the opportunity to establish a presence on campus.”

HSA PrimeCare has a longstanding partnership with Silver Cross Hospital dating back to 2008, when the hospital first chose the firm to develop and manage the two-story, 53,000-square-foot medical office building primarily occupied by Lurie Children’s Hospital of Chicago physician offices, Silver Cross Center for Women’s Health, and Hinsdale Orthopedics. The hospital again selected HSA PrimeCare to develop the state-of-the-art University of Chicago Cancer Center at Silver Cross Hospital operated by Silver Cross Hospital and University of Chicago Medicine in 2011 and to expand the facility to 21,000 square feet in 2014. That year, the firm also developed Silver Cross’ 30,000-square-foot business center to house offices, hospital support departments, EMS training and IT for the hospital.

Strategically located at the confluence of I-355 and I-80 in growing New Lenox, Silver Cross Hospital is the premier location for healthcare delivery to Chicago’s southwest suburbs. Eppstein Uhen Architects is the architect for the new project, while PREMIER Design + Build is serving as general contractor.

For more information on joining these healthcare providers in the new on-campus medical pavilion, please contact HSA PrimeCare’s leasing team, Robert Titzer and Olivia Wirth.

HSA PrimeCare SVP Jon Boley Discusses Healthcare Acquisitions with Commercial Property Executive

Jon  E. Boley, SVP

Jon E. Boley, SVP

In a recently published Q&A article in Commercial Property Executive (CPE), HSA PrimeCare SVP of acquisitions and development Jon Boley discusses his criteria for assessing a healthcare real estate acquisition.

“First, we consider the sponsor or anchor tenant of the building,” Boley explains. “A hospital or physician group with a strong market share is the ideal tenant, so if the building already has a strong anchor tenant, that’s certainly a plus. On the other hand, if we’re able to add value to an acquisition by partnering with a healthcare system and bringing them into a building, then we look closely at how the subject location fits within the provider’s existing service platform, including the lead tenant’s other outpatient facilities.”

After elaborating on two additional criteria, Jon responds to CPE questions relevant to HSA’s strategy variations for on-campus vs. off-campus facilities, as well as the future of healthcare real estate in light of the Affordable Care Act.

“The ACA has driven the consolidation of hospitals and physician practices in many markets as providers look to gain economies of scale and greater market share,” Boley reports. “In some cases, this has resulted in duplication of service locations. In the aftermath, hospitals and health systems have taken a step back to evaluate their real estate strategies and are beginning to consolidate locations into larger facilities or move physicians to locations with higher volume.”

Boley was recently featured in HSA’s latest episode of its healthcare real estate informational video series, Ask an Advisor, in which he further discusses the topic of healthcare acquisitions.

Click here to read the full article in Commercial Property Executive.

USAA Real Estate Company and HSA PrimeCare Announce Joint Venture to Acquire and Develop Healthcare-Sector Properties in the Midwest

USAA-PrimeCare Combined Logo

(CHICAGO) USAA Real Estate Company (“USAA RealCo”) and HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate, today announced the formation of a joint venture to acquire and develop outpatient healthcare real estate assets across 11 states throughout the Midwest. Together with this announcement, the new joint venture also made its first acquisition, of a 97,375-square-foot portfolio of medical office assets located in northwest Indiana and in Tinley Park, Ill., a suburb southwest of Chicago.

The newly-formed equity fund is positioned to acquire and/or develop a broad range of healthcare real estate such as medical office buildings, cancer centers, ambulatory surgery centers, medical wellness centers, and other specialty centers. HSA PrimeCare, a leading developer and manager of medical office buildings in the Midwest, will provide investment analysis, development, leasing and property management services to the newly formed partnership.

Executive leadership of HSA PrimeCare and HSA Commercial who will collectively lead this venture include Bob Smietana, Dan Miranda and John Wilson. Commented John Wilson, president of HSA PrimeCare: “We are extremely proud to be forming this new venture with USAA Real Estate Company. USAA RealCo’s unparalleled reputation, coupled with its exceptional depth of resources and commitment to healthcare real estate, will combine with our own expertise and local knowledge to create a preferred provider of real estate solutions for healthcare providers.”

Through its own proprietary analysis, USAA RealCo identified the healthcare real estate sector as one poised for strong growth potential. In forming the joint venture with HSA PrimeCare to pursue acquisition and development of healthcare real estate assets, USAA RealCo broadened its geographic exposure to the sector beyond the Southeast, where it began investing in 2015, to include the Midwest. Today, through co-investments and joint ventures, USAA RealCo’s portfolio includes approximately 415,000 square feet of healthcare real estate assets.

“We are delighted to have established this important relationship with HSA PrimeCare, which represents the continuation of our strategy to expand our portfolio of healthcare real estate assets across the country, with best-in-class partners recognized for their expertise, leadership and cultural compatibility. Partnered together, we hope to capitalize on the emerging opportunities in the healthcare industry,” commented Len O’Donnell, president & CEO of USAA RealCo.

About USAA Real Estate Company

USAA Real Estate Company, with approximately $15 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.

About HSA PrimeCare / HSA Commercial Real Estate

HSA PrimeCare partners with some of the leading health care institutions in the nation to create development, project management, leasing, monetization, and property management real estate solutions that address the needs of today’s patients while satisfying the financial goals of the health system. A leading developer and manager of medical office buildings in the Midwest, HSA PrimeCare has developed, acquired, or serviced health care properties of more than 1,500,000 square feet. HSA PrimeCare is a division of Chicago-based HSA Commercial Real Estate, a diversified, full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. For more information, please visit www.hsaprimecare.com or www.hsacommercial.com.