The Offering
Holliday Fenoglio Fowler, L.P. (“HFF”), as exclusive advisor, is pleased to present the extraordinary opportunity to acquire the fee simple interest in 833 Chestnut (the “Property”), a strategic and mission critical medical office building located in the Center City area of Philadelphia, PA.
The Property, located across the street from Thomas Jefferson University Hospital (“TJUH”), consists of 705,061 rentable square feet within a 12-story building (with two lower concourse levels). Currently, the Property is 92% leased. Approximately 60% of the building’s square footage is leased to TJUH (Moody’s Aa3), JUP (S&P A+), Thomas Jefferson University (S&P A+), Nemours Children’s Clinic and other medical related uses. Other major tenants include the U.S. Government (8%) and the Ballinger Company (6%). The Property was renovated in 2000 with over $45 million invested to upgrade the building’s mechanical equipment, roof, elevator cabs, ADA restrooms and fire and life safety systems. The Property represents an exceptional opportunity to acquire one of the most prominent medical facilities in Center City.
Investment Highlights:
-Mission critical core asset leased to a prominent academic medical center
-Approximately 60% leased to medical-related tenants
-Investment grade hospital tenancy (Thomas Jefferson University Hospital: Moody’s “Aa3”)
-Strategic location located adjacent to the Thomas Jefferson University Hospital Campus
-Stable cash flow with long-term stability
-Delivered free and clear of any debt
Investment Contacts
Michael Bennett
Managing Director
(312) 528-3694
mbennett@hfflp.com
Andrew Scandalios
Senior Managing Director
(212) 632-1821
ascandalios@hfflp.com
Jack Dudick
Director
(312) 980-3618
jdudick@hfflp.com
Jose Cruz
Senior Managing Director
(973) 549-2011
jcruz@hfflp.com
Phil Mahler
Managing Director
(312) 300-7319
pmahler@hfflp.com
Mike Janus
Analyst
(312) 528-3677
mjanus@hfflp.com
Mark Thomson
Senior Managing Director
(484) 532-4206
mthomson@hfflp.com
Financing Contacts
Jay Marshall
Senior Managing Director
(212) 632-1809
jmarshall@hfflp.com
Ryan Ade
Managing Director
(484) 532-4209
rade@hfflp.com
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