(To read more on the net lease market, click here.)
SKOKIE, IL-Evanston Northwestern Healthcare will move its data center and 500 employees to Illinois Science + Technology Park, the two-million-sf redevelopment of the former Pfizer and Searle facility. The healthcare provider becomes the largest tenant in Cleveland-based Forest City Enterprises' $30-million project, signing a 130,000-sf lease at the 23-acre campus along the Skokie Swift line, north of Oakton Street.
Evanston Northwestern Healthcare will use the space at the Illinois Science + Technology Park to house electronic medical records, including MRIs and X-rays. The lease gives the operator of Evanston, Glenbrook and Highland Park hospitals twice as much space than it has at its current location. "We will be able to centralize all of our Information Systems personnel in one location," says Evanston Northwestern Healthcare chief information officer Tom Smith. The newest tenant joins the NanoBusiness Alliance, a national trade association; and NanoInk, which developed the Dip Pen Nanolithography manufacturing process.
In addition to reactivating four existing buildings totaling 667,000 sf, Forest City Enterprises' plans include five build-to-suit buildings on both sides of the 4900 block of W. Searle Parkway that could add another 1.3 million sf of high-tech space.
Scott Brandwein of CB Richard Ellis represented Forest City Science + Technology Group, a division of the real estate company specializing in developing life science campuses. Other projects include University Park at MIT in Boston, Translational Research Lab at the University of Pennsylvania and Science + Technology Park at Johns Hopkins in Baltimore. Colliers Bennett & Kahnweiler brokers Richard Berger and Mike Cummings handled negotiations for Evanston Northwestern Healthcare.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.