833 Chestnut is a 12-story, 705,601 square foot office building across the street from Thomas Jefferson University Hospital in the heart of Philadelphia’s Center City district. The portion leased to medical tenants to about 60 percent and rising steadily.
Photo courtesy of HFF
HFF brokers sale of 705,601 s.f. foot Philadelphia building to HCP for $160.5M
By John B. Mugford
In what looks to be the highest price ever paid in the United States for a single medical office building (MOB), Long Beach, Calif.-based HCP Inc. (NYSE: HCP) has closed on the acquisition of a 12-story facility in Philadelphia that sits across the street from one of the city’s major hospitals.
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