For Sale: 100% Leased Multi-Tenant Medical Office Investment Opportunity

Greater-Erie-Medical-Building-Exterior_1Greater Erie Medical Center – 2374 Village Common Drive Millcreek Township, PA 16506

Investment Summary

  • Offering Price: $8,600,000
  • NOI: $636,262
  • Cap Rate: 7.4%
  • Year 1 Cash on Cash Return: 10.22%
  • Occupancy: 100%

CBRE, as exclusive agent for the owner, is pleased to offer the opportunity to acquire the Greater Erie Medical Center located in Millcreek Township, PA, a suburb of the city of Erie. Greater Erie Medical Center is in a premier location that offers easy access due to its proximity to Interstates 79 and 90.

Containing 31,674 gross square feet, the Property includes 22,898 rentable square feet of office space and 5,916 rentable square feet of storage space. Two established medical practices occupy the first floor with the entire second floor leased to the Greater Erie Surgery Center.

Fully Leased

Currently 100% leased, Greater Erie Medical Center represents a Class A multi-tenant medical office building containing 31,674 gross square feet.

Synergistic Mix of Strong Tenants with Long-Term Leases

Greater Erie Medical Center is home to Tri-State Pain Institute, Physical Therapy Associates, as well as the Greater Erie Surgery Center, which occupies approximately 51% of the Property. All three tenants represent established medical practices with a weighted average remaining lease term of thirteen (13+) years.

High Quality Construction

Constructed in 2005, the Property is of excellent quality construction and considered to be superior to that of competing properties.

Strategic Location Among Established Medical Service Providers

The Greater Erie Medical Center benefits from its strategic location approximately 1.5 miles west of the Millcreek Township Community Hospital and Lake Erie College of Osteopathic Medicine (LECOM), the nation’s largest medical college for osteopathic medicine.

For more information on Greater Erie Medical Center, please contact one of the participating brokers or visit our website at

Contact Information:

Paul Fedorko

CBRE, Inc.

T +1 412 394 9856

Antoine Matthews

CBRE, Inc.

T +1 614 430 5020

Johnny Lamberson

CBRE | Memphis

T +1 901 260 1060

Terry Radford

CBRE | Memphis

T +1 901 260 1022

Alternatively, you may register for full offering memorandum by executing the confidentiality agreement.

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