Brown Gibbons Lang & Company | Real Estate Partners has been retained by ownership to offer qualified investors the exceptional opportunity to acquire Edgeworth Medical Commons (the “Property” or “Building”). The Property, totaling approximately 34,947 rentable square feet, is located in Sewickley, Pennsylvania, an affluent suburb 12 miles northwest of Pittsburgh. The Building is highly visible with convenient access from Pennsylvania Route 65 and is located less than one mile from the 186-bed Heritage Valley Sewickley hospital, which is a part of Heritage Valley Health System – Sewickley (Moody’s rated: A1). Heritage Valley Sewickley (the “Hospital”) provides comprehensive health care for residents of Allegheny, Beaver, Butler, and Lawrence counties in Pennsylvania, eastern Ohio, and the panhandle of West Virginia.
The Property is 100% leased and occupied by a diverse group of healthcare providers that is supported by Heritage Valley Health System. Heritage Valley Sewickley, in partnership with affiliated physicians, owns and operates the Surgery Center at Edgeworth Commons, an outpatient surgery center that anchors 30% of the Building. Additionally, approximately 87% of the Building’s tenancy, including Heritage Valley Pediatrics, which is a part of Heritage Valley Health System, have admitting privileges at Heritage Valley Sewickley, providing additional support for long-term tenancy and stability at the Building.
Opportunity Highlights
- Unique opportunity to add value by adjusting existing below market lease rates to market and converting leases to a triple-net lease structure.
- 100% leased ASC-anchored multi-tenant medical office building represented by established and diverse physician practice groups.
- The physician-owned Property has a Year-1 NOI of $382,193 with annual escalations.
- Multi-specialty ASC that is owned and operated by Heritage Valley Health System in partnership with affiliated physicians.
- 87% of the tenancy has admitting privileges at Heritage Valley Sewickley (Moody’s rated: A1), which is less than one mile from the Property.
- Sewickley is an affluent suburb of Pittsburgh where a disproportionate amount of its residents (18%) are over 65 years of age.
Reminder – Call For Offers: Tuesday, June 28th, 2016
Submit Offers To: cstai@bglco.com
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Contact Information
Christopher L. Stai, CPA | Managing Director
BROWN GIBBONS LANG | Real Estate Partners
D: 949.936.2665 | E: cstai@bglco.com
Andrew R. Larwood | Associate Director
BROWN GIBBONS LANG | Real Estate Partners
D: 312.658.4756 | E: alarwood@bglco.com
Brian J. Lenahan | Managing Director
Brown Gibbons Lang | Real Estate Partners
PA Real Estate Broker LIC # RM422987
Clinton J. Parker | Managing Director
BROWN GIBBONS LANG | Real Estate Partners
D: 210.352.5832 | E: cparker@bglco.com
Allen C. Inman | Associate Director
BROWN GIBBONS LANG | Real Estate Partners
D: 312.658.4754 | E: ainman@bglco.com
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