OrthopaediCare Buys Six-Acre Pad Site

PHILADEPLPHIA- OrthopaediCare, formerly the Orthopedic Specialty Center has paid $3.2 million for a 5.5-acre pad site within New Britain Corporate Center, a 62-acre master planned office campus project located 30 miles north of here in Chalfont, PA. The seller is the center’s master developer, locally based BPG Properties Ltd.

OrthopaediCare intends to build a 33,000-square-foot orthopedic center on its site. Construction of the new outpatient center is slated to begin this October, pending approvals. The center is expected to open this coming May.

Located adjacent to the 130,000-square-foot New Britain Village Shopping Center, New Britain Corporate Center is fully approved for the development of up to 465,000 square feet of commercial space. Presently it includes a 50,000-square-foot multi-tenanted office building; a 70,000-square-foot office building developed as a build-to-suit for Chrysler Financial Services Americas LLC; a medical building for Children’s Hospital of Philadelphia; a life care center; and a day care center.

Current approvals allow for a 50,000-square-foot, two-story office building; a single-story 31,600-square-foot office/flex building; a two-story 59,600-square-foot office/flex building; and 150,000 square feet of office space, all within 11 planned one- and two-story office buildings.

BPG is a private equity real estate fund manager. Its portfolio includes 20 million square feet of office, retail, student housing, and industrial properties and more than 25,000 apartment units in more than 100 communities located throughout the United States. The firm’s regional offices are located in Los Angeles, Chicago, Boston, Atlanta, Raleigh-Durham and Washington, DC.