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NAI Hiffman Brokers 87K-SF Medical Office Lease Renewal in New Lenox
NAI Hiffman has brokered an early, long-term lease renewal for Silver Cross Hospital at 1890 Silver Cross Blvd., a 174,855-square-foot, six-level medical office building in New Lenox, Illinois.
Silver Cross healthcare providers occupy 87,461 square feet, which includes the first two levels as well as eight suites on the upper four levels. Perry Higa, executive vice president, corporate services at NAI Hiffman, represented Silver Cross in the lease renewal, and Steve Brooks and Katie McReynolds of NexCore Group represented the owner, Prudential Real Estate Investors.
Higa and Pryor strategized and initiated lease negotiations to reduce costs and restructure the hospital’s lease term and obligations, which was completed nearly two years ahead of its original lease expiration. “With the challenges facing healthcare providers — from high construction costs, to inflation, to labor shortages — it’s more important than ever to provide creative real estate solutions for health systems and independent physician groups,” said Higa.
