December 13, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $12.35 million sale of Norriton Medical Center, a 74,212-square-foot medical center anchored by Einstein Orthopedics and Moss Rehab in the Philadelphia suburb of East Norriton, Pennsylvania.
The HFF team represented the seller, an indirect wholly owned subsidiary of Franklin Realty Development Corporation.
Located in Greater Philadelphia, home to one of the largest concentrations of healthcare institutions, teaching hospitals, R&D facilities, and life sciences hubs in the country, Norriton Medical Center is ideally situated directly in the shadow of the area’s largest hospitals, Einstein Medical Center Montgomery (1.4 miles) and Suburban Community Hospital (0.8 miles). The 7.31-acre site is located at 160-190 West Germantown Pike, one of the Plymouth Meeting/ Valley Forge area’s busiest six-lane thruways, supporting regional traffic volume of more than 25,000 vehicles per day. The four-building complex is currently 92 percent leased and features the area’s only nationally ranked rehabilitation facility that operates under the Einstein Healthcare Network umbrella.
The HFF team representing the seller included senior director Ben Appel and the national healthcare capital market team as well as senior managing directors Jim Cadranell and Doug Rodio and managing director Brett Segal. HFF co-marketed the asset with the property’s leasing team, Beacon Realty Advisors.