The Polyclinic
09.02.2016
Heartland has worked closely with The Polyclinic to evaluate and implement their expansion plans in the First Hill neighborhood. Through this engagement, Heartland integrated the unique operational requirements of medical institutions into its site search and evaluation criteria. Our efforts for The Polyclinic included helping to rezone an existing asset to allow for 130,000 square feet of medical office space, partnering with an equity investor to acquire and lease the 200,000 square foot 7th and Madison building, negotiating a 99-year ground lease of the adjacent block to accommodate parking and future development/expansion, leasing 62,000SF of office space for a new clinic and selling two surplus assets for just over $24M. Heartland continues to provide ongoing real estate, capital, and strategic advisory services to evaluate and facilitate expansion opportunities throughout the Polyclinic’s portfolio and service area.
