NAIOP June 4, 2009
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Transcript of NAIOP June 4, 2009
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NAIOP June 4, 2009
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What do you do with a dead mall?
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850,000 square feet on 56 acres
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2008 100 Oaks PhotosWhat were they thinking?
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2008 100 Oaks Photos
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2008 100 Oaks Photos
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Developer’s Team• Anthony T. Ruggeri – ATR & Associates, Inc.
– Real estate owned, managed or sold in Plano, Dallas, Steamboat Springs, Lubbock, and other Texas locations
• Frank Mihalopoulos – Corinth Properties– Several retail projects in Texas with one recent project
being 70 acre Cedar Hill Village in Dallas totaling almost 700,000 square feet
• Developers enlisted CB-Richard Ellis (Janet Sterchi) for marketing and Gresham, Smith and Partners for architecture
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Developers Brought• Curiosity• Vision• Purchase of One Hundred Oaks• Development and Retail Expertise• Team to Deliver Project
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The Challenge• VUMC Growth over the past 9 years
– 93% in ambulatory visits– 63% in outpatient surgical operations– 60% in full-time clinical faculty
• Space from 2.5 million square feet to approximately 4.5 million square feet
• Traffic congestion• Expensive Parking
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The Opportunity• One Hundred Oaks: 56 well located acres • 450,000 square feet of space requiring only
renovation• On-site parking• Excellent visibility, recognition and interstate access• The entire facility (over 800,000 square feet) plus
land available under lease/purchase• Lower capital expense
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“The future ain’t what it used to be”
Yogi Berra
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Concept• Vanderbilt “branded” campus convenient to
patients, faculty and staff• Transform 100 Oaks into a state of the art
lifestyle center for health and wellness• Provide space on the 21st Avenue campus for
growth of targeted clinics, faculty and staff offices
• Minimize construction of on-campus parking and control traffic congestion
• Sustainable construction – LEED Design Principles
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Why 100 Oaks• One of few sites that is scalable to
accommodate long range growth needs• Highly visible and known location• Ability to make this a nodal campus• Can be occupied in approximately three years.
Similar developments on campus would take up to five years or more
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Why Now?• Our targeted growth programs, Cancer,
Cardiology, Surgery, Neurology and others are out of space. To reach our goals for these programs more space must be created on the 21st campus
• This is a unique opportunity and will not be available later
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Women’s Health
• Region’s most comprehensive breast care center
• Dedicated MRI for breast imaging
• Region’s only multi-disciplinary breast cancer clinic
• Saturday morning hours for screening
• All outpatient OB-Gyn services in one convenient location
• “Centering” program
• Ultrasound screenings and pregnancy dating
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• Consolidation of all dermatology practices into one convenient location: phototherapy, general dermatology, micrographic surgery (MOHS), cosmetics
• Discrete cosmetic entrance and waiting
• State of the art laser therapies available
Expanded Programming
• Strong emphasis on prevention• Full diagnostic capabilities
• Individual infusion bays with recliners, television, and space for family
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Expanded Programming
• First outpatient palliative care clinic• Research embedded to determine
how pain is perceived, transmitted, relieved, prevented
• Architectural design facilitates mobility & testing
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Pediatric Focus
University Pediatrics
Adolescent Medicine
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Diagnostic Capabilities
• Full service laboratory facilities• Available if seeing provider @
One Hundred Oaks or elsewhere
• Full service imaging facilities• Open MRI in ambient setting
• State of the art testing/monitoring facilities
• Pediatric and adult friendly
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• Covered valet parking drop-off/pick up• Golf cart shuttles in parking• Wheelchair assist• Pagers• Electronic check-in• MyHealth@Vandy computers• Volunteers ready to assist
Convenience
• Full service prescription services• Limited retail (over the counter)
selections• Pharmacist on site for
education/questions
Customer Service
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New “Vanderbilt Health” Image
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Transformation
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Building Exterior
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Front Entrance
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Before
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After
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Before
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After
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Electronic Check-in• Check-in using a Credit Card or other
magnetic stripe card • Conveniently located outside each clinic• Confirm patient demographic and
insurance information • Pay insurance copayment electronically• Print receipt or schedule of upcoming
appointments
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Patient Pager System• Integrated with StarPanel Whiteboard• No keypads required• Customized text messages• Long range to cover entire building• One clinic-wide solution
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My Health at Vanderbilt
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Neighborhood Relationships• Neighborhood meetings
– Green Hills, Forest Hills, Oak Hill, Brentwood
– Berry Hill– Nolensville Rd.
• Direct Mail to 20,000 households
• Positive feedback on project and interest in Wellness Center
• Community Grant Program
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Community• Received 9 proposals totaling ~$60,000• A total of $25,000 was awarded to 7 projects
– Glencliff High School – The Neighborhood Resource Center– The South Nashville Family Resource Center – Flatrock Community Garden – The Hands Together in Flatrock Music and Arts Festival – The Junior Achievement program – The Council on Aging
• Awarded early May 2008
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Timing• May 2006 – Introduction of availability• June – Secret tour and internal
discussions• July – Introduction of the parties on site• July 11, 2007 Lease signing• February 2008 Partial Occupancy• February – August 2009 Substantial
Occupancy
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