Los Angeles-based commercial real estate services firm NAS Investment Solutions (NASIS) recently announced its acquisition of the newly constructed corporate office building at 1173 Ignition Drive South in South Bend, Ind. The building serves as the national headquarters for Press Ganey — a leading provider of performance measurement and improvement services to U.S. healthcare providers.
National Asset Services (NAS) will be assuming asset management and property management responsibilities for the newly acquired investment. No purchase price was specified in the announcement.
The Press Ganey administrative building is part of the 140-acre Ignition Technology Park development and was designed for the company to consolidate and relocate its local operations. Delivered earlier this year, the low-rise building incorporates 82,064 square feet of class A South Bend office space across two floors. On-site amenities include grade-level parking with roughly 400 spaces; controlled access; and a unique, 4,800-square-foot, rooftop employee patio lounge.
The single-tenant property is located on approximately seven acres and provides quick access to U.S. Highway 31 and other major thoroughfares connecting South Bend to Indianapolis and Chicago, as well as the wider region.
Founded in 1985 by two Notre Dame professors, Press Ganey is now the fifth-largest employer in the area and features five primary product lines: patient experience, clinical excellence, workforce engagement, consulting and safety. Currently, the company has more than 1,600 employees in 23 locations across the country. Its customers include more than 80% of the largest U.S. hospitals and medical service providers.
“We are extremely proud to have delivered an elite, trophy-class property to our investment clients while expeditiously closing the transaction for our 1031 Exchange investors,” said Karen E. Kennedy, president and founder of NAS Investment Solutions and National Asset Services. “This property acquisition is the direct result of our tenacious acquisitions team, our exhaustive underwriting process and our transactions management expertise.”
NASIS was represented in the acquisition of the property by Los Angeles attorney Paul D. Rubenstein.
