Healthcare Midwest

Bear Real Estate Advisors helps client acquire 15,000-square-foot MOB

Bear Real Estate Advisors represented Columbia Property Investors in its acquisition of a 15,000-square-foot medical office building 100 percent leased to St. Luke’s University Health Network in Brodheadsville, Pennsylvania.

Columbia Property Investors acquired the property for in excess of $6 million.

Located at the intersection of Pennsylvania Route 715 and U.S. Route 209, the building was completed in 2017 as a build-to-suit for St. Luke’s University Health Network’s Monroe Campus.

The regional healthcare provider hosts physical therapy, primary care, Care Now and lab blood draw services at the single-story facility.

Founded in 1872, St. Luke’s University Health Network is a non-profit network providing services at seven hospitals and more than 270 outpatient sites in the greater Lehigh Valley. The network’s service area includes 10 counties: Lehigh, Northampton, Carbon, Schuylkill, Bucks, Montgomery, Berks and Monroe counties in Pennsylvania and Warren and Hunterdon counties in New Jersey. St. Luke’s also operates the nation’s oldest School of Nursing and 23 graduate medical educational programs.

The seller, Ashley Development Corporation, was represented by Andrew Randolph of ALT Realty. Ashley Development constructed the property for St. Luke’s University Health Network’s Monroe campus beginning in May 2017.