GI Partners, a San Francisco investment firm, has paid $79 million, or roughly $567 a square foot, for 3701 Market St. in the University City neighborhood of Philadelphia. The sale of the 8-story, 141,913-square-foot building highlights how life sciences properties trade at a premium and continue to attract outside real estate investors to Philadelphia and… 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 in a four-story building at 1200 Locust Street Philadelphia PA. Please call for the asking sale price of this medical space for sale in Philly…. Read more »
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 »
A Montgomery County behavioral health care hospital that was put up for sale nearly two years ago is getting a new owner. Avenues Recovery Center of Lakewood, New Jersey, expects to close on its acquisition of Valley Forge Medical Center on June 14. Financial terms of the deal are being kept confidential. Valley Forge Medical… Read more »
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 »
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 »
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 »
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 »
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 »
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 »
