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PHILADELPHIA-King of Prussia, PA-based Medical Associates is selling its 61,470-sf, three-story, medical office building there. The property is located on 5.25 acres at 451 Allendale Rd.

The land contains 237 parking spaces, and the facility is easily accessible to I 76, Hwy. 202 and the Pennsylvania Turnpike.

The asking price is undisclosed. Average asking rental rate for office space in this submarket is approximately $26.50 per sf, according to GlobeSt.com research, which is about $4 per sf above the overall average for suburban Philadelphia markets.

The building is 95% occupied, and University of Pennsylvania Health System is among the primary tenants. UPHS is a Philadelphia-based health insurance provider affiliated with the U. of Penn School of Medicine, Pennsylvania Hospital in Center City, and dozens of healthcare providers and institutions throughout the Delaware Valley.

Locally based Binswanger/CBB is the exclusive agent for the sale.

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