St. Joseph’s Hospital Medical Office Building
Chippewa Falls, Wisconsin
- Capital Procurement
- Development & Ownership
- Project Management
- Property Management
Purchase Date: May | 2014
Purchase Price: $4.8 million
- Lead development process
- Conceptualized free-standing medical office building on hospital’s campus
- Sourced all needed capital
- Performed necessary due diligence to facilitate the project in an efficient and cost-effective manner
- Efficient floor plate design maximizes space and operational efficiency
- Building’s design and construction helped drive a sound economic model
St. Joseph’s Hospital, an affiliate of Hospital Sisters Health System (HSHS), in Chippewa Falls, Wisconsin was outgrowing its current space and required a contemporary medical office facility to allow its primary care services to be delivered more efficiently. At the same time, expanding rehabilitation service lines including occupational therapy, physical therapy and speech therapy required modern space in order to grow. The hospital turned to Irgens to lead the development process. Irgens conceptualized a free-standing medical office building on the hospital’s campus that provides easy access for patients and prominent placement for key physician services.
Irgens sourced all needed capital (equity and debt) for the project allowing St. Joseph’s/HSHS to preserve its capital for further strategic growth. Irgens designed the project concept and performed the necessary due diligence to facilitate the project in an efficient and cost-effective manner, including assembling a full design team and consultants, investigating the constraints of the site, understanding the entitlement process, preparing economic models to create a viable project and providing all capital necessary to develop and own the facility. Efficient floor plate design maximizes space and operational efficiency, while the building’s design and construction helped drive a sound economic model. A two-story atrium greets patients while the in-building community room serves as a public asset by allowing for group educational programs.