A medical office building in Warrington has been sold for $17.25 million. As a result, investor demand for healthcare real estate continues to be demonstrated across the region.
The property, known as Stone Manor, spans approximately 62,750 square feet. It was originally developed in 2007 and remains a well-established healthcare asset.
The building was acquired by Cornerstone Cos., a national healthcare real estate investor. As a result, institutional capital continues to target stabilized medical office properties.
At the time of sale, the property was about 93 percent occupied. Therefore, strong tenancy and consistent cash flow supported the transaction.
The tenant mix includes a range of healthcare providers. In addition, an ambulatory surgery center operates within the building. As a result, long-term demand is supported by essential medical services.
Other tenants include specialty medical groups and professional service users. Consequently, the property benefits from a diversified occupancy profile.
The building is located within a highly active healthcare corridor. Nearby hospital systems and medical centers continue to drive patient traffic. As a result, the location remains attractive to both providers and investors.
More broadly, medical office assets have remained resilient compared to traditional office space. In turn, stable occupancy and long-term leases have supported investor confidence.
Ultimately, the sale reflects continued interest in healthcare-focused real estate.
*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.
Please visit our website for a full listing of commercial properties for lease or sale, www.wolfcre.com.
