Norriton Medical Center Sold
Norriton Medical Center is located near the area’s largest hospitals, Einstein Medical Center Montgomery (1.4 miles) and Suburban Community Hospital (0.8 miles).
PHILADELPHIA, PA—Holliday Fenoglio Fowler arranged the $12.35 million sale of Norriton Medical Center, a 74,212-square-foot medical center anchored by Einstein Orthopedics and Moss Rehabilitation Hospital, at 160-190 West Germantown Pike in the Philadelphia suburb of East Norriton, PA.
The name of the buyer was not disclosed. An HFF team that included senior director Ben Appel and the national healthcare capital market team, as well as senior managing directors Jim Cadranell and Doug Rodio, and managing director Brett Segal, represented the seller, an indirect wholly owned subsidiary of Franklin Realty Development Corporation. HFF co-marketed the asset with the property’s leasing team, Beacon Realty Advisors.
Located in Greater Philadelphia, home to one of the largest concentrations of healthcare institutions, teaching hospitals, R&D facilities, and life sciences hubs in the country, Norriton Medical Center is located near the area’s largest hospitals, Einstein Medical Center Montgomery (1.4 miles) and Suburban Community Hospital (0.8 miles).
The 7.31-acre, four-building complex is currently 92 percent leased and features the area’s only nationally ranked rehabilitation facility that operates under the Einstein Healthcare Network umbrella.