Philadelphia – (Jan. 9, 2019) – Bear Real Estate Advisors announced today that the real estate investment services firm represented Columbia Property Investors in its acquisition of a nearly 12,000-square-foot medical office building in the Philadelphia suburb of Hellertown.
Located at 708 Main St., the medical office building was completed as a build-to-suit for Lehigh Valley Health Network, a regional healthcare provider. Lehigh Valley Health Network has leased the entire property for 15 years on a net lease basis.
“This transaction serves as a premier example of Bear Real Estate Advisor’s creative system of sourcing off-market properties for our investor clients,” said Matt Bear, founder and chief executive officer of Bear Real Estate Advisors.
Lehigh Valley Health Network is a regional healthcare provider that has a network of more than 1,340 primary care and specialty physicians, with hospitals on eight campuses throughout the Lehigh Valley of Philadelphia and New Jersey. The network features the LVHN Cancer Institute, the LVHN Heart Institute and the LVHN Institute for Special Surgery.
“We are pleased to have completed this accretive acquisition and appreciate Bear’s relentless effort to keep the deal on track throughout the entire process,” said Michael Hanson, manager of Columbia Property Investors. “This medical office building is an excellent addition to our investment portfolio, as it features a long-term net lease with a quality tenant in an excellent location.”
The seller, Ashley Development Corporation, was represented by Andrew Randolph with ALT Realty LLC.
Ashley Development Corporation is a real estate development firm specializing in mixed-use projects in urban areas and the adaptive re-use of existing structures. Founded in 1989, the firm focuses on both residential and commercial projects.
About Bear Real Estate Advisors
Bear Real Estate Advisors, founded in 2018 and headquartered in Las Vegas, is a boutique real estate investment services firm that caters to investors looking for personalized service and real world, battle-tested acquisition and disposition advice. The firm focuses on Section 1031 exchange buyer representation, national single-tenant investment sales and acquisitions, net lease investments, joint venture advisory, capital structure advisory, build-to-suit developments, debt/equity, specialized search and family office/professional investor buyside representation. For more information, go to www.bear-advisors.com.
Contact:
Lauren Burgos
Spotlight Marketing Communications
949.427.1399
lauren@spotlightmarcom.com
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
