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Cogdell Spencer to Break Ground on Lancaster General Health Campus Medical Office Building

Posted on: Monday, 23 October 2006, 18:05 CDT

LANCASTER, Pa., Oct. 23 /PRNewswire-FirstCall/ -- Cogdell Spencer Inc. announced today that the ground breaking event on the Lancaster General Health Campus Medical Office Building will be held at 12 p.m. on Wednesday, October 25, 2006 at the Lancaster General Health Campus. The 64,070 square foot facility will be owned by Cogdell Spencer Inc. and various physician tenants occupying space in the building.

Cogdell Spencer Inc. is developing the three-story medical office building that will be anchored by an Ambulatory Surgery Center (ASC), to be called Physicians' Surgery Center, which will include four operating rooms and two procedure rooms. The ASC ownership is composed of an operating joint venture that includes Lancaster General Hospital and several local area surgeons. The ASC will occupy the first floor of the building while the top two floors will be completed to house multi-specialty tenants.

Lancaster General, the dominant healthcare provider in the region, is an existing client relationship for Cogdell Spencer Inc. In July 2006, Cogdell Spencer Inc. broke ground on a rehabilitation hospital also located on the Lancaster General Health Campus. That project is scheduled for completion in the second quarter of 2007.

"This medical office building will help advance the mission of Lancaster General Hospital and provide a convenient location and healing outpatient setting for the surgery center patients and visitors to the physician offices," said Devereaux Gregg, Vice President of Development with Cogdell Spencer Inc. "We are proud to continue our partnership in healthcare with Lancaster General."

Lancaster General Health Campus Medical Office Building will be located at 2150 Harrisburg Pike, at the intersection of Rohrerstown Road and Spring Valley Road. The building will include separate covered entrances to both the medical office building and the ambulatory surgery center. Ramseur Petersen Design has been chosen as the architect and Benchmark Construction is the general contractor of record. This $15.5 million project expands Cogdell Spencer's presence in the Lancaster market and is scheduled for completion during the fourth quarter of 2007.

About Cogdell Spencer Inc.

Charlotte-based Cogdell Spencer Inc. is a fully-integrated, self-administered and self managed real estate investment trust (REIT) that invests in specialty office buildings for the medical profession, including medical offices, ambulatory surgery and diagnostic centers. At present, the Cogdell Spencer Inc. portfolio consists of 50 wholly owned properties, four joint venture properties and 57 managed medical office buildings. For more information on Cogdell Spencer Inc., please visit the Company's website at http://www.cogdellspencer.com/.

About Lancaster General

Lancaster General is a non-profit health system of more than 40 healthcare providers including Lancaster General Hospital, Lancaster General Health Campus, Lancaster General Women & Babies Hospital and Lancaster General Medical Group. A Magnet hospital and one of America's 100 Top Hospitals seven out of the last nine years, Lancaster General Hospital is the keystone of the health system and holds a national and regional reputation for clinical and operational excellence. For more information about Lancaster General, visit http://www.lancastergeneral.org/.

Cogdell Spencer Inc.

CONTACT: Media, Dana Crothers, Marketing Director of Cogdell SpencerInc., +1-704-940-2904, or dcrothers@cogdellspencer.com

Web site: http://www.cogdellspencer.com/http://www.lancastergeneral.org/

Source: PRNewswire-FirstCall

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