"The Lillibridge team has always been very responsive," says Donald Caccia, AtlantiCare's director of real estate and construction. "That's why we not only signed a three-year extension, but also added all the rest of our outside properties to this contract. We liked the appearance of the properties Lillibridge managed previously and wanted the same look across the whole portfolio."
The largest of those facilities is the 540-bed AtlantiCare Regional Medical Center, a regional teaching hospital here. And the company's regional medical campus in nearby Atlantic City, formerly known as the Atlantic City Medical Center, is currently undergoing a $98-million, 198,000-sf expansion.
"Because we're now managing 400,000 sf of property, AtlantiCare will see a significant reduction in its property management cost per sf," says Todd Lillibridge, chairman and CEO of the company that bears his name.
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.