Colliers Negotiated Sale of 33,000-Square-Foot MOB, which is 100% Leased
PLEASANT HILLS, PA, MAY 16, 2022 – Colliers (NASDAQ and TSX: CIGI) announces that it has facilitated the sale of a 33,172 -square-foot medical office property in Allegheny County, Pennsylvania for $14 million. The building was purchased by Sila Realty Trust, a public, non-traded real estate investment trust headquartered in Tampa, Florida, that invests in high-quality healthcare properties leased to tenants capitalizing on critical and structural economic growth drivers. Colliers’ Pittsburgh Regional Principal Gregg Broujos and Kim Kretowicz, Managing Director Healthcare Specialist / Capital Markets represented the seller and the buyer in the transaction.
Located at 810 Clairton Boulevard, the asset is 100% leased with regionally recognized complimentary specialty practices comprised of Jefferson Hospital / Allegheny Health Network (AHN), Kids Plus Pediatrics, Miracle Dental Associates and Vision Care Associates-Eye Care Specialties of Pennsylvania.
“We received several quality offers from REITs, Private Equity firms and private investors for 810 Clairton,” said Kretowicz. “Given the uncertain economic outlook, there has been phenomenal growth in the number of new investors into the healthcare real estate sector. This is driven by a move out of equities and into the safe haven of medical office spaces. At the end of the day, Sila Realty Trust’s sterling track record of owning and operating high-quality healthcare properties proved to be the perfect fit for the property.”
The building sits on 6.24 acres and is ideally located on Route 51, the strongest medical/retail corridor in the region. The ideal location of the property provides direct synergy with and close proximity to the heavy concentration of health systems on the Route 51 corridor, including Jefferson Hospital and University of Pittsburgh Medical Center hospital.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $57 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
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