Background
In October 2021, Hammes Partners acquired land and began development on a 54,000-square-foot medical office building in Appleton, Wisconsin. The medical office building is 100% pre-leased to the leading pediatric hospital in the state.
Hammes also developed a 33,000-square-foot medical office building for the same health system in the Greater Milwaukee market, which was completed in 2019.
Challenge
The leading pediatric hospital in Wisconsin sought a new, purpose-built outpatient clinic in the Appleton market to deliver a wide range of pediatric specialties from a single, convenient location. Hammes Partners was positioned to acquire land and develop the facility against a 100% pre-leased commitment from the anchor tenant.
Solution
Hammes Partners acquired land and began development of the 54,000-square-foot building in October 2021, anchored by a 100% pre-lease to the system. The clinic was planned to provide a wide range of pediatric specialties including cardiology, audiology, neurology, orthopedics, physical therapy, child advocacy, imaging, and lab — extending the long-standing health-system relationship that Hammes had previously served in the Greater Milwaukee market.
Project Milestones
- Land acquisition and development start: October 2021.
- 100% pre-leased to the leading pediatric hospital in Wisconsin.
- Planned tenant program: cardiology, audiology, neurology, orthopedics, physical therapy, child advocacy, imaging, and lab.
- Extends prior Hammes-developed 33,000 SF MOB in Greater Milwaukee for the same health system (completed 2019).
Value Delivered
Hammes Partners structured the acquisition and ground-up development of a 54,000-square-foot pediatric clinic in Appleton, Wisconsin, against a 100% pre-leased commitment from the leading pediatric hospital in the state. The development extends a multi-market relationship with the same health-system tenant, which Hammes previously served with a 33,000-square-foot Greater Milwaukee medical office building completed in 2019.
Frequently Asked Questions
What did Hammes Partners do for the Appleton medical office building?
Hammes Partners acquired land and began development on the 54,000-square-foot medical office building in October 2021. The building is 100% pre-leased to the leading pediatric hospital in the state.
Where is the Appleton medical office building located?
The building is located in Appleton, Wisconsin.
How large is the Appleton medical office building?
The medical office building totals 54,000 square feet and is 100% pre-leased to the leading pediatric hospital in Wisconsin.
Who is the anchor tenant of the Appleton medical office building?
The building is 100% pre-leased to the leading pediatric hospital in the state of Wisconsin. The clinic will provide a wide range of pediatric specialties including cardiology, audiology, neurology, orthopedics, physical therapy, child advocacy, imaging, and lab.
When was the Appleton medical office building acquired?
Hammes acquired the land and began development in October 2021.
