NAI Hiffman Brokers Western Springs Medical Office Sale

May 12, 2011

As reported in REjournals.com on May 4, 2011 

WSMC Partners LLC has completed the purchase of the newly named Western Springs Medical Center, a former garden center located at 4700 Commonwealth Drive in Western Springs, Illinois. Read more

Posted by NAI Hiffman | Filed Under Lease, Medical, Office, Press Releases, Sale 

DEVICOR MEDICAL PRODUCTS OPENS OFFICES IN SIX CITIES WORLDWIDE

April 14, 2011

NAI Hiffman assists new medical products developer in securing office leases globally

Adam Roth, CCIM, SIOR

Chicago, IL (April 14, 2011) – Cincinnati, Ohio-based Devicor Medical Products, Inc. has signed leases totaling over 40,000 square feet of office space in six cities worldwide with assistance from NAI Hiffman and five other NAI Global member firms on three continents. NAI Hiffman’s Adam Roth, CCIM, SIOR, served as the coordinating broker for their global expansion. The newly created company commenced their operations less than one year ago, identifying six cities where they required office space for their local sales force. The leases signed to date total over $6 million in transaction value.

The latest lease was signed with assistance from Hideki Tsuchiya and Akiko Takatsugi with NAI Japan in Chiyoda-ku Tokyo, where Devicor Medical leased 2,404 square feet of space at 1-8-3 Marunouchi in a building owned by Mori Trust.

The company’s headquarters, which are located in the Cincinnati area, opened for business in June of 2010. The 29,891-square-foot office is in a 150,000 square foot building at 300 E-Business Way in Sharonville, Ohio. Andrew Kahn with NAI Bergman represented Devicor in the transaction locally.

Jon Salkin, executive vice president of corporate development and strategy with Devicor Medical Products, said “NAI provided market insight with local brokers who made the execution of our multiple market requirements a focused, deliberate process.” He added, “the result was a speedy rollout of our new company within budget and on time for our people on the ground.”

Devicor’s Paris office lease commenced in January 2011. Mickael Jones of NAI France assisted in identifying the 3,154-square-foot space located at 1 rue Camille Desmoulins in Issy les Moulineaux, a suburb situated just southwest of the city’s 15th arrondissement.

Also opening in January was Devicor’s Hamburg 1,000-square-foot office, located at Suedportal 3 in Norderstaedt, Germany. Martin Hoeppler with NAI apollo assisened with the transaction locally.

 Devicor also recently completed leases in Rome, Italy and Seoul, Korea.

Posted by NAI Hiffman | Filed Under Adam Roth, Corporate Solutions, General Business, Logistics, Media Coverage, Medical, NAI Global, Office, Press Releases 

Healthcare Reform Could Have A Significant Impact On Commercial Real Estate

February 18, 2010

as seen in Illinois Real Estate Journal, Jan/Feb 2010 issue:

Brian T. Edgerton

As the healthcare industry and U.S. population eagerly follow the healthcare debate in Washington, the medical office sector of commercial real estate also stands waiting to see how these historic changes could affect the demand for space within Medical Office Buildings (MOBs). Many experts agree that the prospect of providing healthcare coverage to a significant part of 46 million uninsured Americans, coupled with an aging Baby Boom population, will have a significant effect on the demand for the space in which healthcare service is delivered. The question is how much demand will be generated?

While the medical office segment of commercial real estate has historically performed stronger than other asset types (general office, industrial, retail), the current economic climate, pending healthcare reform, and rising medical costs have slowed demand as many wait on the sidelines to watch what unfolds in the coming weeks and months.

According to the CoStar Group, as of December 2009, the national vacancy rate for medical office space sits at 10.7 percent as compared to a traditional office vacancy rate of 13.1 percent. Here in Illinois, the vacancy rate for medical office is 11.9 percent as compared to the traditional office space vacancy rate of 15. 4 percent.

With so many factors at play, it is difficult to quantify the expected demand at this time. But we do know certain factors that will play a part in what we predict will ultimately lead to the steady positive absorption of current, quality, vacant medical space in addition to a demand for an additional supply of clinical and ambulatory care space in the near future if healthcare reform passes. Read more

Posted by NAI Hiffman | Filed Under Media Coverage, Medical