February Announcements

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In case you missed our February newsletter, here are some of the key announcements that appeared in the issue. Make sure you don’t miss future editions of the Holladay Properties newsletter, by signing up today!

People News

Steve-Laird

Steve Laird has joined Holladay’s Portage office as the Project Manager in charge of our WoodSpring Suites hotel developments in the Chicagoland area. He comes to us from WoodSprings Suites Property Management, where he was the Director of Operations for over eight years. Mr. Laird had such positive experiences in working with our team on our first WoodSpring Suites hotels, that when the opportunity came to discuss a position with us, he was excited to join the team and have the chance to learn more about the development and construction processes.

Jason Kincses and Diego Vasquez have joined our South Bend Property Management Team as Maintenance Techs. They will both be serving our commercial tenants in the South Bend market.

Want to join the Holladay Properties team? Check our our list available jobs on our website.

Lease Announcements

Holladay Properties is pleased to announce a 90,000 square foot lease with Federal Mogul Powertrain in the Ontario Building at 5435 Dylan Drive in South Bend.The new lease brings the 165,000 square foot industrial building to 100% occupancy. Federal Mogul will join Pepsi, who became fully operational out of its 75,000 square foot space in November 2016.

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Federal Mogul’s new space within the Ontario Building is currently under construction by Holladay Construction Group.

The Kansas City market brought on a new tenant to the Menorah Medical Office Building II, in Overland Park, Kan. KC Core Chiropractic currently occupies a suite at Centerpoint MOB in Independence, Mo. Now, they have decided to expand their practice to our other building. Construction plans have been submitted with work to commence this month. They will occupy 996 SF in a difficult-to-lease shell space.

Community Involvement

On February 3, our South Bend office participated in National Wear Red Day. National Wear Red Day is an initiative of the American Heart Association to bring attention to the fact that heart disease is the leading cause of death for women and to raise awareness of women’s heart health. Find out more about National Wear Red Day at the Go Red for Women website.

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Fairfield Inn & Suites Ashland/Richmond welcomes 1st guests

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We are so excited to announce that our newest hotel, our 9th operating one, is now open at 11625 Lakeridge Parkway in Ashland, Virginia – the Fairfield Inn & Suites Ashland/Richmond. The 4-story, 103 room hotel is located right off of I-95 at exit 89 near Richmond, VA, within Holladay’s 150-acre Winding Brook commercial development. The hotel features free Wi-Fi throughout the hotel, a pool and fitness center, and a vibrant, modern design.

The Fairfield Inn & Suites is a joint venture development between  Holladay Properties and Guest Services, Inc. The project broke ground in August 2015 with the support of Hanover County Virginia, especially Rhu Harris, Hanover County Administrator and Wayne T. Hazzard Chairman of the Board of Supervisors.

The hotel welcomed its first guest, with quite a bit of pomp and flair, on March 16, 2017.

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Now that the project is complete, let’s take a look back at the construction process through these photos taken throughout the different stages.

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The Groundbreaking Ceremony – August 28, 2015

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Site preparation – October 30, 2015

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Building footings – December 17, 2015

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First steel supports – January 14, 2016

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Starting the third floor – March 8, 2016

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Windows installed – May 19, 2016

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Exterior finishes – August 26, 2016

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Almost ready to open – March 3, 2017

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The lobby before opening – March 3, 2017

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The pool is ready for its first swimmers – March 3, 2017

What do you think of our newest hotel? Let us know in the comments section of this post!

Holladay Properties – Medical Division

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Holladay Properties launched the healthcare real estate division from our Nashville, Tennessee office in 1989. Since that time, this division has developed a national reputation of excellence in medical office building management and development of medical real estate assets for third-party owners. We understand the real estate needs of healthcare systems and our experience allows us to build value for you and your tenants, securing your real estate future.

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An Accredited Management Organization© (AMO)©, Holladay Properties is one of the largest privately held healthcare real estate firms in the nation; we have managed billions of square feet of healthcare properties in nearly 30 different states. We are an experienced partner and can provide customized solutions including capital redeployment, operating expense efficiency, tenant satisfaction, regulatory compliance and technology sophistication for your healthcare system. Our mission is to focus on the real estate, so you can focus on patient care.

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With diverse experience and knowledge in the areas of development, leasing, property and fiscal management, financing, facilities planning and the design and construction processes, Holladay has the resources needed to achieve our clients’ objectives and to deliver a result that is a sound investment for the future. Our firm is uniquely positioned to provide a full range of real estate solutions for healthcare systems and physician groups of all sizes, and offers a wide-ranging mix of both products and services including:

  • Accounting
  • Appraisals
  • Acquisitions
  • Brokerage & Leasing
  • Build to Suits
  • Compliance
  • Consulting
  • Construction Management
  • Design Services
  • Energy Management Solutions
  • Engineering Services
  • Financing
  • Joint Ventures
  • Land Planning
  • Lease Administration
  • LEED Certification
  • Market Studies
  • TIF & Infrastructure Services
  • Property Management
  • Real Estate Tax Appeals
  • Sustainability Practices
  • Tax Abatement
  • Tenant Improvements
  • Tenant Retention

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Since our first MOB development in 1992, Holladay has represented property owners in thousands of medical office transactions.  As a real estate developer, investor, and manager, Holladay recognizes each lease represents a crucial balance of needs between facility, physician, and CRE.  By satisfying these needs, Holladay is able to push the renewal horizon.

Our employees help distinguish us from the pack. We recruit locally-based, top-level property managers, leasing personnel and maintenance engineers to oversee our facilities. These employees are specialized and well trained and we encourage all employees to pursue continued education. Maintaining a core group of competent and dynamic individuals fosters the effectiveness and competitiveness of our award-winning property management team.

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With over three decades of experience managing and leasing medical facilities, Holladay has refined day-to-day operational procedures, cost management practices and benchmarking, allowing us to provide our customers state-of-the-art detailed reporting, which can enhance and expedite our customers’ decision making process.  Long-term planning and asset management procedures are handled by our experienced and dedicated employees who truly understand the requirements of the real estate industry.

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We understand that choosing the right partner for your real estate needs is a decision of critical importance. Over the last 65 years, Holladay has grown into a nationally recognized, world-class provider of healthcare real estate solutions. We are capable and committed to achieving success with you on projects both big and small. The unwavering dedication of our highly skilled staff has repeatedly proven our ability to deliver excellence and results that vastly exceed our clients’ expectations. Holladay’s basic tenets rest upon creating significant value for our clients.

Contact us to learn more! Call 615-312-0252 or email healthcare@holladayprop.com.

Recognizing Our People in the Community – Chris Wilkes

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Chris Wilkes(Indianapolis, Ind.) – Chris Wilkes is the partner in charge of development at Holladay Properties’ Indianapolis location. Chris is involved in several community organizations and currently sits on the Board of Directors for the George T. Goodwin Community Center.

Each year, the George T. Goodwin Community Center touches the lives of more than 800 families, individuals, seniors, and children in the Mars Hill and Decatur Township area. From working families struggling to make ends meet, to senior citizens seeking companionship and ways to stay healthy, the Goodwin Center connects neighbors and families with the resources that promote independence and life-long growth.

The George T. Goodwin Community Center offers a wide variety of social services for the community as well as a range of other services specifically designed for children and senior citizens. The Goodwin Center’s programs and services include: food pantry, clothing bank, lending library, Silver Eagles, Head Start, Benefit Bank, and several educational classes.

The Food Pantry, Clothing Bank, and Lending Library make food, clothing, and books, music and movies available to families in the area. These services are made possible by donations from the community, local businesses and community groups. Clothing and media donations can be dropped off Monday through Friday from 10 AM to 3 PM at the Goodwin Center. For questions about the Food Pantry or to donate, contact donald@goodwincenter.org.

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The Silver Eagles Club offers daily activities to help seniors stay healthy and active. Each weekend between 9 AM and 4 PM, seniors can participate in an array of activities, including education programming, socialization activities, field trips, a lunch program, and volunteer opportunities. The Goodwin Center also offers resources including access to social workers, food, health insurance, transportation, and emergency housing assistance. Wellness activities include exercise classes, nutrition and healthy meal preparation classes, and Wii games and tournaments, which all take place at the Goodwin Center.
Family Development Services holds full-day Head Start classes at the Goodwin Center.The program served more than 2,500 children, infants, and pregnant women in 2016. The services are designed to nourish early childhood development and foster long-term learning and social skills. To register or for more information, contact Ms. Le’al at 317.472.6901 or visit www.fds.org.
Volunteers at the Goodwin Center help people apply for state and federal benefits as well as file taxes and register to vote via the Benefit Bank web-based service. The Benefit Bank volunteers ease the confusing, intimidating and time-consuming application processes to help individuals and families secure the funds and services to which they’re entitled. Contact the Goodwin Center at 317.247.5201 for more information or visit http://www.thebenefitbank.org
In addition, the Goodwin Center plays host to a variety of educational programs, including off-site learning for Decatur Central High School students (Exceptional Learners), as well as arts, fitness

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, and computer classes. For more information about the Exceptional Learners Program, please contact Linda Watkins, Director of Exceptional Learners for the MSD of Decatur Township. Office: 317.856.5265 ext. 11108. Email: lwatkins@msddecatur.k12.in.us.

To find out more about the George T. Goodwin Community Center or to donate to the program, visit http://www.goodwincenter.org/. You can also learn more by visiting the Goodwin Center’s Facebook page.

Final look back at 2016 & 2017 preview

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By John Phair
Partner, President & CEO

It’s a New Year!

Just a little over three weeks ago, the Holladay Partners’ leadership team met in our Nashville, TN office. It was our opportunity to take a final look at 2016, review our strategy for 2017, and make final budget adjustments for the new year.

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First, a quick look back at 2016.

In the 45 days leading up to this meeting, Holladay employees gathered in year-end Christmas celebrations in each of our markets; often the holiday/Holladay spirit mingled with some company news, videos and gift giving.  I had the good fortune, with several of our leaders and partners from Nashville, to attend the first state-wide Holladay Party in Florida. We gathered in Orlando for an evening Christmas party followed by a family day at Disney World. Jacqueline Fermin and her team were great hosts, and they had much to celebrate!

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2016 was truly a celebration for all of our Holladay offices, with positive financial results, and strong growth strategies in property management, hospitality, and real estate development.  At the risk of leaving out information from several markets, let me give you some highlights:

  • WebIn Florida, we were faced with a natural disaster: a major sink hole that, in a blink of an eye, closed a key parking structure serving one of our clients’ best medical office buildings. Within hours, and continuing to this day, the whole team was enlisted to get patients, employees and physicians back to work in as normal a fashion as possible, by providing drop off and pick up service, leasing nearby parking spaces, and beginning the arduous planning of a replacement garage; all while keeping our client and all of its tenants happy and in business.  A monumental achievement!
  • woodspring-darien-romeoville-01We opened our first and second hotels in suburban Chicago, WoodSpring Suites. Both of these hotels are long-term stay hotels and we have a strategy in place to bring 13 more into the Chicago area over in the next few years.  Like our eight other hotels, these are supported by a third party management team; but the design, construction, entitlement, site selection, and furnishings all came out of our Portage office. With other hotels under construction in Indianapolis and Richmond, and several others in various planning stages, the hospitality industry is a big part of our future.
  • Property Management is the life blood of our firm! And they had an exceptional year in both the Indiana and Tennessee offices.  They manage some 25+ offices spread from Louisiana to Florida, and Virginia to Minnesota. Both head offices (South Bend and Nashville) were profitable, quality oriented, and have a strong ethical approach to client services. We want it right by doing it the right way. The new leadership team in Nashville has been outstanding. They are no less outstanding in the Indiana offices as we gear up for substantial expansions and new opportunities throughout their regions.
  • Development activity was strong in each of our five key markets in 2016 – South Bend, Portage, Nashville, Indianapolis and Richmond. We completed build to suit warehouses in four markets; acquired land and proceeded with entitlements (zoning, planning, permits, etc.) in virtually all markets; broke ground on our first apartment complex in a while in Downers Grove, IL; put building additions on; completed some 50+ tenant finish projects for either our tenants or our clients’ tenants; and added to our hospitality portfolio. Definitely a very busy year!
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  • Holladay Construction Group was involved with the construction of the vast majority of these projects. Meanwhile, having completed over 50 million dollars of construction in 2016 under a new leadership team, they have brought in a strong battalion of excellent managers to assist their growth well into the future.
  • None of this happens without the day-to-day accounting services. From the CFO to accounts payable, they keep track of every penny, lease, contract and often have a critical role to play in the company’s bottom line. Thanks for making us tow the line!
  • The same is true with day-to-day management – landscaping, engineering, maintenance, insurance, real estate tax payments and all other areas – we are a well-oiled machine with our quality scores being pursued across the board. We differentiate ourselves by our services provided every day, often 24-hours a day.

A couple final notes on this past year.

  • Holladay Properties paid out $112,810 in matching 401k funds to employees
  • Christmas bonuses paid out at year end were a total of $133,000
  • Holladay Properties contributed $1,563,478 to our self-insured health insurance program for employees-employees contributed over $400,000
  • Holladay contributed over $250,000 to many charitable groups or events, including United Way in all our markets. Our first choice in giving is always where our employees are active in their club, church or other civic, non-profit organization.
  • I did not forget to mention the site of our summer gathering – at the Westfield, Indiana Grand Park Event Center (worlds largest indoor soccer facility). It was a spectacular achievement by HCG and HP. It came as a surprise – to me, at least – that shortly after our gathering, the City of Westfield exercised its option to acquire the building…and they did finalize the purchase. So, we are no longer the owner, but we were the creator, designer, and builder, which is something to be mighty proud of!

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Now on to 2017:

  • We are staring the year with just a few over the number of employees we had at the beginning of 2016. In 2017, we do expect to see a few more added, steady, but not explosive growth.
  • Our Property Management teams in both key markets – Indiana and Tennessee (and all of the offices reporting there) have both embarked on growth strategies. They are focused in different directions, but both plans come down to a strong service mentality and a quality product. Our goal is to support that side of our business in a very positive way.
  • I have already mentioned the Hospitality division – 11 operating hotels currently in 2017 and two to three more under construction by year end. Development activity will continue its conservative growth, but with three mixed-use type projects in Nashville, South Bend and Indianapolis are planned for 2017 – a very challenging process.
  • Holladay Construction Group has its eye set on its first 100 million dollar year of new construction activity. Much is already in place or underway, and, of course, Holladay Properties is a big part of it.
  • Raising funds to support our growth and development activity will continue to be a challenge. We have already begun to meet all of our banks and capital sources for our annual financial update and loan requests.

But, we cannot forget our base principals.  And we probably do not talk about these enough:

  1. Treat others as you wish them to treat you.
  2. Every position here at Holladay deserves the same respect from all of us. Holladay’s success is not based on one person or one department, but all of us working together.
  3. We are an open door company-do not go home without talking to someone if something is troubling you.

To each one of you, a hearty Thank You for a great 2016 – and on to 2017!!

The Favorites: Part V

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We’re very excited to continue our “The Favorites” series, in which we explore Holladay employees’ favorite projects – the buildings and developments that they have enjoyed working on or for most during their time with us. In Part V, we’re sharing thoughts from a variety of Holladay divisions, including development, architecture and design, and property management. So read on to find out which projects they love best!


The Villages at Central State – Indianapolis, Indiana
Derek Naber – Project Developer; Joined Holladay January, 2016

My favorite project is The Villages at Central State (www.livecentralstate.com), which is the development of 22 new homes at Central Greens in the near Westside of Indianapolis. I love this project because it is an urban subdivision, which is rarely seen in the new home construction world. The project, if successful, has the ability to change demographics in the neighborhood and truly spark the revitalization of Central Greens.

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Just a five minute drive to downtown Indy, the new homes feature access to everything at Central Greens, and a pretty terrific view.

Find out more about the Central Greens project in our continuing series Diary of Redeveloping a Former Psychiatric Hospital.


The CNL Portfolio – Prince Frederick, Maryland
Kirsten Nussbaum – Director of Property Management-Midwest; Joined Holladay July, 2016

Being involved with the CNL portfolio in Prince Frederick Maryland and helping to build the relationship with the client has been my favorite project so far. There is a new on site property manager – Patty Doss – who is fabulous to work with. The addition of Patty to our team helps this challenging project keep getting better and better.

 


The Inn at Saint Mary’s Renovation – South Bend, Indiana
Lauren Quiett – Project Designer; Joined Holladay September, 2014

My favorite project that I have worked on while at Holladay is the Inn at Saint Mary’s Renovation. This project had no design limitations in regards to brand standards and therefore it was a fun project to get creative with a renovation budget.

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What do you think of these projects? Do you have your own favorite Holladay project? Tell us about it in the comments section.