Trammell Tapped to Develop 146,971 SF N.J. MOB
- Jul 08, 2010
July 8, 2010
By Allison Landa, News Editor
Trammell Crow has been selected as master developer for the 146,971-square-foot Medical Arts Pavilion on Princeton HealthCare System’s new 171-acre, $442 million campus, known as the University Medical Center of Princeton at Plainsboro.
The project will break ground in October and is slated for completion in May 2012. It will be physically connected to the new hospital structure and is owned by Partners Health Trust, Inc., a joint venture of Trammell and a public pension fund advised by Kennedy Associates.
Designed as a replacement hospital for the existing University Medical Center at Princeton, the new new University Medical Center of Princeton at Plainsboro is currently being built. The five-story Medical Arts pavilion will provide four entrances into the hospital: the main north entry, emergency department and operating suites.
“We are pleased to be working closely with Princeton HealthCare System on a key component of its new state-of-the-art campus that will provide comprehensive healthcare services to the residents of the area,” Trammell Crow senior managing director Jeffrey Goggins said when announcing the news. “Our goal is to provide the hospital and physicians with high-quality space in which to provide outpatient care to patients.”
Trammell Crow was founded in 1948 and has developed or acquired more than 500 million square feet of buildings with a value exceeding $50 billion.