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 »
Children’s Hospital of Philadelphia purchased the former Philadelphia Medical Examiner’s Office building for $17.5 million. The 69,000-square-foot property sits on a 2.3-acre site at 501 S. University Avenue. Importantly, the site sits about half a mile from CHOP’s main hospital at 3401 Civic Center Boulevard. CHOP plans to demolish the existing building. However, the health… Read more »
ArchWell Health, a Nashville-based primary care provider for seniors, has entered the Philadelphia market. The company has opened three health centers and plans to launch five more this year. ArchWell focuses on Medicare Advantage members. The company operates 86 centers across 13 states, with Pennsylvania becoming its newest market. The first Philadelphia locations are operating… Read more »
A 10-story medical office building in downtown Philadelphia is now on the market. It is being offered as a potential redevelopment site, joining other office properties shifting to new uses. The 135,825-square-foot building at 919–921 Walnut St. is listed for $13.5 million on LoopNet. Built in the early 20th century, it is known as the… Read more »
Merion Health Partners is continuing its regional growth with the upcoming launch of its eighth urgent care center, set to open later this month at Roosevelt Mall in Northeast Philadelphia. The new facility follows the company’s recent summer opening in Port Richmond, further strengthening its presence across the city. Headquartered in Bala Cynwyd, Merion Health… Read more »
Philadelphia’s medical office sector, long regarded as one of the most stable segments of commercial real estate, is starting to show signs of strain in 2025. After years of outperforming traditional office properties, demand has begun to soften. In 2024, medical office absorption reached 300,000 square feet, but by mid-2025 that momentum reversed sharply, falling… Read more »
Penn Medicine recently finalized the acquisition of a 12-acre plot in Montgomery County for the development of a state-of-the-art multi-specialty outpatient care center. The purchased land, situated at 200 Dekalb Pike, amid Welsh and Knapp roads within Montgomeryville’s boundaries in Montgomery Township, was procured from HRD Investments LLC, according to county property records. Previous presentations… Read more »
Rothman Orthopedic Institute is consolidating its Center City presence and relocating its headquarters one block east on Chestnut Street. The move will put administrative offices and clinical space under one roof, with a total of about 68,000 square feet all at 833 Chestnut St. Rothman expects to make the move in spring 2024. In its… Read more »
Wolf Commercial Real Estate (WCRE) is thrilled to announce that it has been appointed as the exclusive leasing agent for the prestigious Rodin Place, located at 2000 Hamilton Street in Philadelphia, Pennsylvania. Strategically nestled within the vibrant and culturally rich neighborhoods of Fairmount and the Art Museum of Philadelphia, Rodin Place stands as an exceptional… Read more »
