Posts Categorized: Philadelphia Medical Space

Life Sciences Companies Sign HQ Leases in Chester County as Deals Begin to Pick Up

Three life sciences companies have leased space for their headquarters in two different corporate centers in Chester County, making long-term commitments to the region. Though it explored options in the suburbs and Philadelphia, Castle Creek Biosciences Inc. decided to stay in its 86,500 square feet at Eagleview Corporate Center in Exton, where $20 million will… Read more »

Penn Medicine Planning $60M Parking Garage for Penn Presbyterian Campus

Penn Medicine plans to spend an estimated $60 million to build a new parking garage for the Penn Presbyterian Medical Center campus in West Philadelphia. The 495,000-square-foot garage at 3800 Powelton Ave. is designed to have 1,439 parking spaces. A Penn Medicine spokesperson said the structure will consolidate the parking spaces that are currently split… Read more »

Mast Labs Surgical Training Center Coming to Philadelphia Navy Yard

The Philadelphia Navy Yard is getting another health care tenant later this year when Mast Labs opens an independent surgical training center at the site. The first Mast Labs was established in Bethesda, Maryland, two years ago by Dr. Scott Faucett and Terence Redmond to serve the Washington, D.C., region. Jeff O’Donnell Jr., who was recently named president of… Read more »

Children’s Hospital of Philadelphia Opens New Specialty Care Center in Abington

Children’s Hospital of Philadelphia (CHOP) today announced the opening of a new, 37,000-square-foot Specialty Care Center in Abington, PA. This is the latest expansion in the CHOP Care Network, which includes more than 50 primary care offices, specialty care and surgical centers, urgent care centers and community hospital alliances throughout Pennsylvania and New Jersey. CHOP Specialty Care,… Read more »

Cancer Treatment Center of America-Philadelphia Closure Will Eliminate 365 Hospital Positions, Some May Find New Jobs With Temple

The closing of Cancer Treatments Centers of America’s Philadelphia hospital will result in the loss of 365 jobs, according to a notice filed with the state by the specialty medical center. CTCA announced last week it was closing the cancer hospital at 1331 E. Wyoming Ave. in the Juniata Park section of the city. The for-profit company has… Read more »

Penn Medicine and PHMC take over at Mercy hospital in West Philly

Penn Medicine

The University of Pennsylvania Health System early Thursday started running the emergency department at the former Mercy Hospital in West Philadelphia as part of a partnership with Public Health Management Corp., Independence Blue Cross, and Trinity Health, the hospital’s former owner. The new name of the facility at 501 S. 54th St. is PHMC Public… Read more »

New Hahnemann Landlord Aims to Keep Drexel Labs in Philly, as school eyes Move to Former GSK Site in Montgomery County

Investment group Iron Stone Real Estate Partners has a deal to buy a section of the former Hahnemann University Hospital campus on North Broad Street that’s partly occupied by Drexel University’s medical labs. But Drexel may not be sticking around for long: It is in talks to move those researchers to GlaxoSmithKline’s former pharmaceutical plant… Read more »

D.C. Real Estate Firm Proposes $190M Life Sciences Building in University City

A Washington, D.C., real estate company plans to develop a $190 million, 185,000-square-foot life sciences building in University City that will also have manufacturing space, setting it apart from some of the other proposed or newly constructed properties that cater to these companies. Republic Properties Group entered into a 90-year ground lease with SEPTA on… Read more »

Philadelphia Medical Office Campus Trades for $53M

BG Capital has sold its medical office campus in Philadelphia’s Port Richmond neighborhood for $53.1 million. The campus, comprising three medical office buildings, was purchased by the New Jersey-based commercial real estate company, the Hampshire Cos., and its international investment partner, Arbah Capital. The sale resulted in BG Capital BG Capital has sold 90% equity… Read more »