Wellbridge Surgical, which focuses on providing a high-quality, affordable, and transparent surgical service delivery model, needed to secure a surgery center facility to launch their company. Given the lack of available buildings, much less the build-out and licensing requirements of an ambulatory surgery center (ASC), finding a building was a tall order. With no existing surgery center space or buildings available Wellbridge realized they needed to identify a commercial building to be retrofitted for their use and operational needs. Given their specific and expensive build-out needs, it was only feasible to purchase a building and make the investment themselves. There was enormous uncertainty on the anticipated costs and timeline of events.
Wellbridge engaged Scott Lindenberg of Reliant Partners to thoroughly evaluate the market for any available buildings within their size range and geographical boundaries. This initial search required inquiries of listed and off-market properties, mainly single-story buildings on the northside of Indianapolis. After identifying the preferred building Scott provided market research, sales comps and facilitated purchase negotiations, which included direct meetings with the principals. Once under contract Scott memorialized the timeline of events to keep all parties aligned with their responsibilities. Additionally, Scott researched and provided various architectural, engineering and construction resources to expedite the due diligence and estimated costs. In the end the buyer secured a below market purchase price which provided a small buffer against the future investment to convert a former Harrison College facility to a Surgery Center.