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Cogdell Spencer ERDMAN(SM) Announces New Contract in the Northwest Region

Friday, May 7, 2010 Press Release J E 4
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SEATTLE, May 6 Cogdell Spencer ERDMAN(SM) announced today that it has signed a $17.7 million contract to design/build and develop a new medical office building in Bonney Lake, Washington.

Construction is scheduled to begin next month on the three-story, 58,500 square foot (SF) medical office building. The project is a joint venture with Cogdell Spencer ERDMAN, MultiCare Good Samaritan Hospital and a group of private physicians. Upon completion, Cogdell Spencer ERDMAN will own approximately 62 percent of the facility with MultiCare Good Samaritan Hospital and private physicians owning the remaining 38 percent.

The project will sit on 4.75 acres near the intersection of South Prairie Road East and Highway 410 in Bonney Lake, Washington. MultiCare Good Samaritan Hospital will serve as the anchor tenant offering services including: Orthopedics, Physical Therapy, Obstetrics and Gynecology, Internal Medicine, Oncology, Laboratory Services and Drive-Thru Pharmacy. "We are excited to bring new health care services and MultiCare's expertise to Bonney Lake," said Glenn Kasman, Vice President of Professional Services and Business Development at MultiCare Good Samaritan Hospital. "The significant expansion of providers and services will mean better access to health care for residents in that area."

Other physician services will include: Primary Care, Same-Day Primary Care, Pediatrics, Ophthalmology & Dermatology, Foot and Ankle, and Imaging. Service providers will include: Sound Family Medicine, Sound Family Medicine Same Day, Woodcreek Healthcare, Cascade Eye & Skin Center, Foot & Ankle Specialists of Bonney Lake and Diagnostic Imaging Northwest.

"Cogdell Spencer ERDMAN is pleased to be a part of this collaborative partnership with MultiCare Good Samaritan Hospital and the consortium of physicians that will further advance medical care in Bonney Lake and the surrounding communities for years to come," said Paul Aigner, President of the Northwest Region of Cogdell Spencer ERDMAN.

About Cogdell Spencer ERDMAN(SM)

Cogdell Spencer ERDMAN(SM) is the nation's premier integrated healthcare facilities company. Our clients count on us as a trusted partner in defining their healthcare delivery strategies and developing innovative facilities solutions to support them. We are widely recognized for creating sustainable, efficient healing environments for our clients and their patients. The Company has been built around understanding and addressing the full range of specialized real estate needs of the healthcare industry. Cogdell Spencer ERDMAN is a service mark of the wholly-owned operating company of Cogdell Spencer Inc. Learn more about Cogdell Spencer ERDMAN and its parent company Cogdell Spencer Inc. (NYSE: CSA) at www.cogdell.com.

SOURCE Cogdell Spencer ERDMAN
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