Temple Health has acquired a property in North Philadelphia for $900,000, continuing its investment in the surrounding healthcare district. The health system purchased the 0.18-acre site at 3401 Germantown Avenue from 3401 Sky Properties LLC. Previously occupied by Sky Beer, a beer store and deli, the property sits directly across from Temple’s Health Sciences Campus…. Read more »
Global pharmaceutical company GSK plans to invest more than $800 million in a new biologics manufacturing facility in Montgomery County. The project is expected to create approximately 300 manufacturing jobs in Upper Merion, Pennsylvania. The four-story facility will rise at GSK’s existing East Campus along River Road. The company already maintains manufacturing operations at the… Read more »
Penn Medicine is partnering with Independence Blue Cross and Regent Surgical to expand outpatient healthcare across the region. The organizations plan to establish at least 18 ambulatory surgery centers across Pennsylvania, New Jersey, and Delaware. Specific locations have not yet been announced. However, the planned expansion could create significant demand for specialized healthcare real estate… Read more »
Philadelphia’s medical office market recorded stronger rent growth in mid-2026 despite moderate leasing activity. Asking rents increased 2.5% year over year to an average of $27.72 per square foot. Notably, medical office rent growth outperformed Philadelphia’s traditional office market during the same period. The increase also reversed six consecutive quarters of slowing rent growth. However,… Read more »
Thomas Jefferson University will establish a four-year regional campus of Sidney Kimmel Medical College in downtown Allentown. The expansion aims to increase access to medical education while strengthening the healthcare workforce throughout the Lehigh Valley. The new campus will occupy more than 54,000 square feet at One Center Square. Additionally, the project will feature newly… Read more »
Philadelphia’s medical office investment market is showing signs of improvement in 2026. Although leasing remains soft, investment activity has strengthened noticeably. The first quarter delivered the strongest start for medical office sales since 2022. As a result, investor confidence appears to be returning to the sector. Medical office transactions totaled approximately $80 million during the… Read more »
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… Read more »
Philadelphia’s medical office market is regaining balance as the spring season begins. As a result, the sector is showing early signs of stabilization following a recent slowdown. After reaching a low of 8.1 percent at the end of 2024, vacancy has increased modestly. As of April 2026, the rate stands at 9.1 percent. However, vacancy… Read more »
Philadelphia’s medical office market is entering a cooling phase after years of steady growth. As a result, demand is declining and vacancy is rising. Notably, the market recorded negative net absorption in late 2025. During this period, more tenants vacated space than leased new space. In total, the fourth quarter posted negative 260,000 square feet… Read more »
A group of local investors has purchased a second former Crozer Health hospital. As a result, efforts are underway to reopen both properties as medical centers. KQT Aikens Partners, led by Todd Strine, acquired the properties following the collapse of Crozer Health. Prospect Medical Holdings filed for bankruptcy in January 2025. Consequently, the Delaware County… Read more »
