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CENTER VALLEY, PA-Lehigh Valley Hospital has signed a 10-year lease for 11,878 sf, the entire first floor, at 3800 Sierra Circle within the Stabler Corporate Center. Hospital-related physicians’ offices will expand to the new space in spring 2007 under an agreement valued at in excess of $3 million.

The Allentown-based Health Network operates three hospitals and numerous community health centers throughout the Lehigh Valley. This lease kicks off lease-up of the three-story, 36,000-sf class A office building, one of three planned in Stabler center by Doylestown-based Sierra Management Co. Bill Wolf, senior vice president of the Allentown office of CB Richard Ellis, was the sole broker in the transaction.

The new location’s easy access to I 78 and Rte. 309, allows the hospital to provide more choices in healthcare access to the area’s increasing population, according to Gregory Kessell, Sierra’s president. “The building’s floor sizes enable tenants to have prominence in the building and an abundance of perimeter windows,” Wolf adds.

Stabler Corporate Center is a 600-acre, master-planned, mixed-use complex. Among its office tenants are Olympus and Dun & Bradstreet. The center’s proximity to the new Promenade Lifestyle Center and Center Valley Golf Club, Wolf says, “is making it the office park destination in the Lehigh Valley.” The average asking rent rate for class A office space in the Lehigh Valley is $19.61 per sf, according to a third-quarter 2006 report from CBRE.

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