The University of Pennsylvania is one of the top academic institutions in the country, but in University City it also takes the role of real estate developer. To be exact, there is $1.3 billion in construction currently underway at the Ivy League university, with $440 million more in the pipeline. The projects under construction include… Read more »
Tower Health and Penn Medicine have decided not to move forward with a potential clinical affiliation announced by the Berks County health system more than a year-and-a-half ago. In a statement, the two health systems said they have “mutually and amicably” agreed to no longer pursue a strategic alliance. Both Health Systems had no comments… Read more »
Tower Health is close to finalizing a deal to sell 17 of its urgent care centers, part of its ongoing financial turnaround plan. “We have an interested party and we continue to work toward trying to complete the sale this first quarter,” Tower CEO P. Sue Perrotty told the Business Journal. “That [time frame] may be a… Read more »
Nemours Children’s Health is planning a multimillion-dollar expansion in southeastern Pennsylvania highlighted by the opening of three additional specialty care sites by the winter of 2024. The Wilmington pediatric health system plans to open new care centers in Chester, Delaware, and Montgomery counties at a cost of about $40 million. “We take care of more… Read more »
Spectrum Health Services Inc. has paid $9.43 million for a 43,847-square-foot building on South 33rd Street in Philadelphia that it has been a tenant in for years. The building at 1325-49 S. 33rd St. was sold by Hero House Holdco LP, a Bala Cynwyd entity that acquired the property in 2015 from the School District… Read more »
Alabama-based Encompass Health Corp. plans to build a $55 million inpatient rehabilitation hospital in the Norristown area. The proposed freestanding, 50-bed medical center on undeveloped property at 2660 Audubon Road in Lower Providence Township will serve patients recovering from debilitating illnesses and injuries including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations… Read more »
Wolf Commercial Real Estate, a leading Philly commercial real estate brokerage firm that specializes in Philly commercial real estate listings and services, is now offering a fully-built-out Philly medical space for sale at 1200 Locust Street Philadelphia PA. A total of +/-7,045 square feet are available at this Philly medical space for sale through Wolf… Read more »
Wolf Commercial Real Estate, a leading Philly commercial real estate brokerage firm with expertise in Philly commercial real estate listings and services, now has available Philly medical space for sale, including medical equipment, at 1200 Locust Street Philadelphia PA. Please call for the asking sale price of this medical space for sale in Philly. Contact… Read more »
Being a health care executive in 2022 means grappling with the ongoing Covid-19 pandemic, the shortage of nurses and other health care workers, and building needs and technology advancements that continue to change when and how medical care is delivered. Throughout the week we will publish other interviews from the event, including with Penn Medicine… Read more »
BG Capital has paid $77 million for Constitution Health Plaza, a 295,000-square-foot medical office building at 1930 S. Broad St. in Philadelphia. BG Capital of Philadelphia bought the building in partnership with the Hampshire Cos. of New Jersey and Arbah Capital of Saudi Arabia. The property was 95% occupied at the time of the sale… Read more »
