X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

EGG HARBOR TWP., NJ-Lillibridge has signed a three-year contract extension to manage the entire 400,000-sf AtlantiCare Health System portfolio. The Chicago-based Lillibridge has been managing properties for AtlantiCare since 2004, and the latest extension includes 138,000 sf of space that the healthcare provider had been managing itself. Terms were not released.

“The Lillibridge team has always been very responsive,” says Donald Caccia, AtlantiCare’s director of real estate and construction. “That’s why we not only signed a three-year extension, but also added all the rest of our outside properties to this contract. We liked the appearance of the properties Lillibridge managed previously and wanted the same look across the whole portfolio.”

The largest of those facilities is the 540-bed AtlantiCare Regional Medical Center, a regional teaching hospital here. And the company’s regional medical campus in nearby Atlantic City, formerly known as the Atlantic City Medical Center, is currently undergoing a $98-million, 198,000-sf expansion.

“Because we’re now managing 400,000 sf of property, AtlantiCare will see a significant reduction in its property management cost per sf,” says Todd Lillibridge, chairman and CEO of the company that bears his name.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.