(Horsham, PA): Mediplex Property Group (Mediplex) is pleased to announce the successful completion of the latest addition to its portfolio of healthcare-focused real estate. Mediplex Prudential Road is strategically located in Horsham, PA, home to an expanding concentration of both healthcare providers and life sciences companies. Serving Philadelphia’s northern suburbs, the property at 508 Prudential Road is strategically situated near the Willow Grove Interchange of the Pennsylvania Turnpike, as well as PA Routes 611 and 63.
This state-of-the-art, 13,000 square foot Class-A medical office is entirely leased to SEPA Pain Management (www.sepapain.com), a leading and growing regional provider of pain management care and related treatment services. The new facility houses exam and procedure rooms, a call center, an infusion center and the practice’s management offices.
Despite the multiple challenges posed by the pandemic, the space was planned, demolished to shell, and totally renovated to SEPA’s complex specifications in a mere 5 months. According to Jeffrey Goldstein, a Mediplex principal, “the swift and smooth completion of this project is due to the talent, tenacity and professionalism of an exceptional design and development team”.
Mediplex Prudential Road is the latest example of Mediplex’s longtime focus on assignment-driven projects for its physician partners. Goldstein also noted the rising importance of tenant ownership to the success of independent physician practices: “Physician equity in the real estate they occupy has a number of potential benefits, such as mitigating upfront capital expenditures for tenant improvements and upgrades; long term wealth creation; ongoing passive income to offset declining reimbursements; and a usefulness in attracting and incentivizing new hires.” As a developer, he expressed conviction that this approach is mutually advantageous: “We’ve encouraged physician ownership participation in each of our last several projects. Doing so fosters trust, promotes transparency, and allows access to our partners’ thought process from the outset, making Mediplex a much more astute and accommodating developer of healthcare real estate. Gaining this level of insight into the evolving facility needs of ambulatory care is only possible through this type of true partnership.”
According to Dr. Patrick Fall, “SEPA’s partnership with Mediplex has resulted in our practice acquiring a new long-term home where all aspects of treatment, from medication to interventional pain management procedures, will be delivered in a safe, comfortable and welcoming environment that fully reflects the highest quality of care we strive to provide.”
Mediplex Prudential Road is the third property developed by Mediplex in Eastern Montgomery County, PA in recent years. Previous projects include Mediplex Abington, a 20,000 square foot medical office building across from Abington Hospital-Jefferson Health in Abington, PA and the DaVita Willow Grove Dialysis Clinic, across from Willow Grove Mall, which earned the firm a Developer of the Year award by the Abington Township Economic Development Committee.
PROJECT TEAM
The building was designed by Linn Architects of Media, PA, and construction management services were provided by Linn Management, also of Media, PA. Financing was provided by Bryn Mawr Trust Corporation.
ABOUT MEDIPLEX PROPERTY GROUP
Since 2008, Mediplex Property Group has been fulfilling the requirements of physician practices, regional health systems, and regional/national outpatient healthcare providers on a wide range of real estate assignments. The Company has facilitated independent practice network solutions, programmatic development and build-to-suit projects ranging from ground-up construction to adaptive re-use in urban and suburban environments. Whether acting as a preferred real estate developer and landlord for Fortune 200-ranked corporations or facilitating the needs of a private medical practice, Mediplex has both the experience and expertise to enhance the patient and provider experience while ensuring the efficiency of any stand-alone or co-located outpatient healthcare setting.
For additional information about Mediplex Property Group, please call 267-513-1979 or visit the company’s website at www.mediplexpropertygroup.com.
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