For more information or photos, contact:
Dave Finnegan, 617/914-2520
This press release relates to the FCS+T Group property:
SKOKIE, Illinois – Illinois' vision to become a leader in the life science industry is taking shape today as Forest City Science + Technology Group, a division of Forest City Enterprises (NYSE: FCEA) (NYSE: FCEB), announced that Evanston Northwestern Healthcare (ENH), a leading Chicago health care provider, is joining the emerging cluster of technology companies at the Illinois Science + Technology Park being developed by Forest City in Skokie.
ENH will be initially relocating its Data Center to support its EPIC Electronic Medical Records system, and more than 500 employees to new offices at the Park, occupying approximately 130,000 square feet on a long-term lease.
The Illinois Science + Technology Park is uniquely poised to house ENH's Data Center, which is the very heart of the ENH information system. The state-of-the-art Data Center will store and support all electronic medical records including MRIs and x-rays. In its new location, the Data Center will double its space capacity.
"It has been amazing to see the campus transformed over the past year. Our vision is becoming reality as Illinois' new science cluster comes to life," said Gayle Farris, president of Forest City Science + Technology Group. "We are privileged to have ENH join two leading nanotechnology groups at the Park to benefit from synergistic relationships and to tap into an expanded labor pool of talented technology and research employees."
The innovative Illinois Science + Technology Park, which will include 2 million square feet of research and office space spread across nine buildings, provides the necessary infrastructure and environment to allow entities such as ENH to fulfill their technological needs and future growth opportunities. The Park's existing buildings, totaling 660,000 square feet, mark a doubling of Illinois' supply of life science facilities to provide companies with the resources to grow and develop their products and push goods to the marketplace more efficiently. The Park also boasts a state-of-the-art conference center, on-site café and other premier corporate amenities.
"Governor Blagojevich and I have been working closely with Forest City as it has transformed this empty facility into a powerful economic engine once again for Skokie and the entire region by attracting high-tech firms to Illinois and by further establishing the state as a national leader in biotech," said Illinois Department of Commerce and Economic Director Jack Lavin. "The Park brings the worlds of technology and real estate together, serving as a catalyst through which science and business can continue to grow and thrive in Illinois."
As its largest institutional tenant, ENH joins two nanotech groups that have located their offices at the Park. NanoInk, a leading nanotechnology company, recently opened its offices in the Illinois Science + Technology Park. The NanoBusiness Alliance, a national industry association, moved its Midwest headquarters to the Park last year. The 23-acre Park will allow companies the ability to expand within the campus over the long term.
"With our move to the Illinois Science + Technology Park, we will be able to centralize all of our Information Systems personnel in one location, as well as provide the infrastructure necessary to support this specialized and critical center," said Tom Smith, ENH chief information officer.
"We welcome ENH and its employees to Skokie, and look forward to their involvement in the Park, our community, and the positive impact on Skokie's downtown business and residential district," commented Skokie Mayor George Van Dusen. "Congratulations to both ENH and Forest City on this exciting development, which marks the Park's continued growth and importance to both Skokie and the state's economies."
CB Richard Ellis' broker Scott Brandwein represented Forest City, and ENH was represented by Colliers Bennett & Kahnweiler brokers Richard Berger and Mike Cummings.
Forest City Science + Technology Group is a division of Forest City Enterprises, Inc., an $8.0 billion NYSE-listed national real estate company. For more than 20 years, Forest City has successfully delivered real estate solutions for science by creating award-winning life science campuses with some of the nation's leading universities, corporations and research institutions. Forest City Science + Technology Group presently operates a portfolio of more than 2 million square feet of life science/technology office space in Boston and Philadelphia, with more than 5 million square feet of space under development in several major markets including Baltimore, Chicago, Cleveland and Denver. (www.forestcityscience.net)
Forest City Enterprises is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate throughout the United States. The Company's portfolio includes interests in retail centers, apartment communities, office buildings and hotels in 25 states and the District of Columbia. Elsewhere in the Chicagoland area, Forest City is master developer of the 80-acre Central Station residential project (in partnership with Jerry Fogelson), the city's largest real estate project. In 2004, Forest City began construction on the million-square-foot Promenade Bolingbrook open-air regional lifestyle center, which will open in 2007, and is also redeveloping approximately 1,600 homes for the United States Navy in the Chicago area. (www.forestcity.net)
Located in Chicago's northern suburbs, Evanston Northwestern Healthcare (ENH) is an integrated healthcare provider that includes Evanston, Glenbrook and Highland Park Hospitals, ENH Medical Group (comprising 65 medical offices and facilities), ENH Home Services, ENH Research Institute and ENH Foundation. Through its affiliation with Northwestern University's Feinberg School of Medicine since 1930, ENH supports extensive medical education and research. ENH is in the top nine percent of all institutions that receive funding from the National Institutes of Health; among multi-specialty independent research hospitals, it ranks 12th in the nation. ENH has been named a top 100 U.S. hospital 11 times.
CB Richard Ellis Group, Inc. (NYSE:CBG), a FORTUNE 1000 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2005 revenue). The Company serves real estate owners, investors and occupiers through more than 300 offices (including affiliate and partner offices) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; investment management; appraisal and valuation; and research and consulting. Founded in 1906, CB Richard Ellis marks a century of excellence in real estate services this year. (www.cbre.com.)