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LAURYS STATION, PA-A partnership of medical professionals has sold Riverside Professional Center, an 18,000-sf office building, a private investor from Bethlehem. The class A building has traded for $3.3 million or just north of $183 per sf.

The 5649 Wynnewood Dr. building is accessible to residents throughout Northern Lehigh County. Frank T. Smith of Summit Management & Realty Co. in Allentown represented the seller and also procured the buyer, Steve Mohle.

Thomas P. Harakal, managing director of the partnership and a one-time occupant of the building, says his group initially tried to sell the property on its own and then enlisted Summit, which he says obtained several offers and projected the final price “almost to the dollar.” He tells GlobeSt.com that the 16-year-old building currently is 100% leased, with some partnership members still part of the tenant roster.

“Market conditions made this an opportune time to sell,” Smith says. “The rent rate covers a broad range depending on the individual medical office fit-outs, but the average is about $20 per sf.”

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