M id A tlantic Real Estate Journal — March 24 - April 13, 2017 — The Best of 2016 — 11C The best medical office Sale of 2016 Lee & Associates East Orange General Hospital East Orange, NJ NAI Summit 31 S. Commerce Way Bethlehem, PA
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Matt Dorman of NAI Summit recently represented the seller in the sale of a single story multi-tenant office building located at 31 S. Commerce Way in Bethlehem, PA. A local medical group purchased the 17,400+ square foot facility in July
Size: 70,000 SF Peter Rasmusson CCIM of Lee & Associates represented the purchaser of the Essex Valley Medical Arts building at 310 Central Avenue in East Orange, NJ. Global Medical Real Estate, a REIT, purchased the 68,000 sf medical office building for $11,860,000.
for $1,150,000. The new owners are in the process of reno- vating and updating the facility with the building already at 90% occupancy with several tenants and long term leases in place; and has the ability to be expanded in the future to accommodate additional medical users. Located in LVIP IV, just off Route 512, the property is centrally located in the Le- high Valley and has easy access to Routes 22, 33 and I-78. NAI Summit has been handling the leasing for this location for over 10 years with a solid track record of maintaining a high occupancy level.
The building houses doctors serving the hospital and hospital functions such as a lab & dialysis center. The seller, Prospect Medical Holdings, acquired all of the assets of East Orange General Hospital in March 2016. It subsequently spun off the medical office building in September, 2016 to GMRE in a ten year sale/leaseback transaction orchestrated by Lee & Associates.
Matt Dorman
Peter Rasmusson
ALL YOUR COMMERCIAL REAL ESTATE NEEDS IN ONE PLACE.
610.264.0200
NAISUMMIT.COM
INDUSTRIAL SPACE FOR LEASE
INDUSTRIAL LAND FOR SALE
COMMERCIAL BLDG FOR SALE
INDUSTRIAL BLDG FOR SALE
585 AC along NJ/PA border • Zoned Industrial Easy access to 80, Routes 22, 33, + 78 PhillipsburgBelvidere & Foul Rift Rd, Belvidere, NJ
BRAND NEW construction • 24’ ceiling hts Drive in doors • Ample parking • Great visibility 7042 Snowdrift Road, Allentown, PA
57,122 SF • 2.71 Acres • Ample parking Unique interior qualities • Multiple uses allowed 554 North Street, Emmaus, PA
94,026 SF • B3 Zoning • 10 dock doors 8 drive in doors • 18’-20’ ceiling ht 2124 & 2118 Hanover Ave, Allentown, PA
RETAIL + PAD SITES FOR SALE/LEASE
IND./FLEX BLDG FOR SALE/LEASE
INDUSTRIAL BLDG FOR SALE
DEVELOPMENT OPPORTUNITY
Adjacent to Walmart Super-center • 15+ ACS 60K SF Retail Ctr • 1.5 miles SW of Scranton Taylor Commons Center + Land, Taylor, PA
166 Foster Avenue, Freeland, PA
54+ Acres on 3 parcels • Excellent demographics Can be purchased separately • Variety of uses allowed Brookside/Lower Macungie Rds, Lower Macungie, PA
235,000 SF • 14+ AC • Private rail served facility 20’-24’ ceiling hts • Ample Parking 600 Brighton Street, Bethlehem, PA
60K SF Office/showroom/warehouse • 6 AC Addt’l storage bldgs • Heat & A/C • Loading Docks
GREATER LEHIGH VALLEY’S PREMIER FULL SERVICE COMMERCIAL REAL ESTATE FIRM SALES/LEASING PROPERTY MANAGEMENT BUILDING SERVICES INVESTMENT SERVICES
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