The Polyclinic
09.02.2016
As a strategic real estate advisor to The Polyclinic from 2007-2020, Heartland worked closely with the executive team to evaluate and implement their expansion plans throughout the Seattle market. Through this engagement, Heartland integrated the unique operational requirements of medical institutions into its site search and evaluation criteria. The results of these efforts include the following:
- Acquisition of a site that met The Polyclinic’s stringent criteria for long-term expansion needs;
- Assisting in the rezone of an existing asset to allow for 130,000 square feet of medical office space;
- Disposition of surplus property on Capitol Hill;
- Partnering with an equity investor to acquire and lease the 200,000-square foot 7th and Madison building (recognized by NAIOP as the Puget Sound’s Deal of the Year for 2011);
- Negotiating a 99-year ground lease of the adjacent block to accommodate parking and future development/expansion; and
- Negotiating a lease that will allow for long-term phased occupancy of a building in Northgate and conversion from administrative office to medical office.
