Philly Medical Space

SIGNAGE_PA_MEDICALWolf Commercial Real Estate is the Philadelphia commercial real estate broker that can transform your Philly medical space goals into reality.  Whether you are planning to buy, sell, lease or rent medical space in Philadelphia, we are the go-to team of commercial real estate professionals that can help you meet all your medical space in Philly needs.

As a premier Philadelphia commercial real estate brokerage firm, we are the unparalleled experts in the Philly medical space market.  We work hand in hand with our clients to help them realize their goals by providing ongoing detailed information about available medical space in Philadelphia.  As a leading Philadelphia commercial real estate broker, Wolf Commercial Real Estate offers proven expertise and the highest standard of service in the Philly commercial real estate market.

Owners who are planning to sell and/or lease their medical space in Philly can depend on Wolf Commercial Real Estate for a customized, defined marketing process that is unmatched in the Philadelphia commercial real estate market.  This decidedly successful marketing strategy from an experienced Philadelphia commercial real estate brokerage firm puts your medical space in Philly in front of the buyers and tenants who are actively looking for available Philadelphia medical space.

For clients planning to buy or lease new medical space in Philadelphia, the team at our Philadelphia commercial real estate brokerage firm acts as the strategic partner who can identify the Philadelphia medical space that is ideal for their needs.  Our team of seasoned commercial real estate professionals will ensure that the sale or lease terms for our client’s new medical space in Philly perfectly complements their real estate goals.

For more information about Philly medical space, look no further than the team at Wolf Commercial Real Estate, the Philadelphia commercial real estate broker that offers unequaled service to the Philadelphia commercial real estate market.

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Mast Labs Surgical Training Center Coming to Philadelphia Navy Yard

The Philadelphia Navy Yard is getting another health care tenant later this year when Mast Labs opens an independent surgical training center at the site.

The first Mast Labs was established in Bethesda, Maryland, two years ago by Dr. Scott Faucett and Terence Redmond to serve the Washington, D.C., region.

Jeff O’Donnell Jr., who was recently named president of Malvern-based Waypoint Orthopedics, joined the Mast Labs group as a general partner to bring the organization’s first expansion site — with its own limited partnership of local surgeon investors — to Philadelphia.

“I’ve wanted to do something like this forever,” said O’Donnell, a health care entrepreneur who has spent the past decade in the medical device industry working for companies such as DePuy Synthes, Intact Vascular and Trice Medical. “There is no independent place companies can use for training. I talked with Scott and Terry and said we need to do this in Philadelphia. … This is a growing med-tech hub. There is a market here for something like this.”

O’Donnell said while large medical companies typically have cadaver labs at their headquarters where they can bring surgeons in for device demonstrations and training, smaller companies are left scrambling to rent space after hours at places such as ambulatory surgery centers or hospitals.

Such arrangements are not ideal, he said, because companies need to get in and out of such sites quickly, limiting their contact time for “relationship building” with the surgeons they hope become customers.

O’Donnell said they have raised just under $1 million to create and fund a 5,000-square-foot Mast Lab at One Crescent Drive in the Navy Yard.

Construction of the facility is expected to begin in the next few weeks with an opening targeted for September.

O’Donnell said the site will feature two wet labs, a lecture hall, modular space for large or small meetings, and locker rooms.

“We want to be that one-stop shop companies need,” he said. “When they have a new product, physicians need to be trained and the best way to do that is with a cadaver. Our site will have all the amenities companies need to do that training.”

O’Donnell said they selected the Navy Yard because of its centralized location in the Philadelphia region and its proximity to the Philadelphia International Airport, which will make it easy for companies to fly in experts to talk with doctors.

He expects the lab to be staffed by 20 to 25 per diem nurses and technicians, and projections are the facility will be profitable within two and a half years.

O’Donnell was named president of Waypoint Orthopedics earlier this month. He joined the company at the start of the year as vice president of business development and marketing.

Waypoint, which was founded last year, is developing instrumentation for use in spine surgery. The company, according to documents filed with the Securities and Exchange Commission, recently raised $600,000 through a private stock sale — augmenting the $300,000 in raised in December — to fund its ongoing product development efforts.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Children’s Hospital of Philadelphia Opens New Specialty Care Center in Abington

Children’s Hospital of Philadelphia (CHOP) today announced the opening of a new, 37,000-square-foot Specialty Care Center in Abington, PA. This is the latest expansion in the CHOP Care Network, which includes more than 50 primary care offices, specialty care and surgical centers, urgent care centers and community hospital alliances throughout Pennsylvania and New Jersey.

CHOP Specialty Care, Abington is located in the heart of Abington Township, at the intersection of Old York Road (Route 611) and Susquehanna Road. Designed to provide specialty care to patients in the surrounding communities of eastern Montgomery County, lower Bucks County and Northeast Philadelphia, the Center includes 28 exam rooms, as well as ancillary facilities including Audiology, Speech Therapy, Radiology (diagnostic x-ray) and EEG services.

“We are thrilled to introduce our brand-new facility, which will ensure that our patients continue to have access to high-quality, convenient care, closer to home,” said Michael J. Drnach, MBA, Assistant Vice President, CHOP Specialty Care Network. “With our Specialty Care Center in Abington, we aim to meet the needs of the growing patient population in Montgomery County, providing families a full range of specialty care services and features such as plentiful parking to make their experience as hassle-free as possible.”

Core outpatient services include Cardiology, Gastroenterology & Nutrition, Orthopaedics, Neurology, Endocrinology & Diabetes, Plastic Surgery, Ophthalmology and Pulmonology. An additional 10,000 square-feet has been earmarked for future clinical programs. Coming this summer, the new Abington facility will offer pediatric-specific after-hours urgent care for children and teens with mild-to-moderate illnesses or injuries that do not require the resources of an emergency room.

CHOP currently serves more than 1.3 million children each year on its main campus in the University City area of Philadelphia and as part of the CHOP Care Network. The Specialty Care Center in Abington joins five existing CHOP facilities in Montgomery County, in addition to a new inpatient hospital on the King of Prussia campus opening in Fall 2021.

*Article courtesy of CHOP.EDU

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Cancer Treatment Center of America-Philadelphia Closure Will Eliminate 365 Hospital Positions, Some May Find New Jobs With Temple

The closing of Cancer Treatments Centers of America’s Philadelphia hospital will result in the loss of 365 jobs, according to a notice filed with the state by the specialty medical center.

CTCA announced last week it was closing the cancer hospital at 1331 E. Wyoming Ave. in the Juniata Park section of the city. The for-profit company has entered into an agreement to sell the hospital building and its assets to Temple University Health System, in a deal that still requires the approval of the Pennsylvania Department of health.

In a Worker Adjustment and Retraining Notification filed by CTCA with the Pennsylvania Department of Labor and Industry, the company notes “some” of the displaced Philadelphia workers may be offered employment at affiliated entities outside of the state. The company’s other hospitals are in Atlanta, Chicago, Tulsa and Phoenix.

CTCA also stated it does not have an exact date for the closure of its facility; however, it anticipates that layoffs will begin after May 30.

In an interview with the Philadelphia Business Journal, Temple Health CEO Michael Young said the system wants to higher as many CTCA employees as possible. Young said Temple Health System is need of additional clinical and office space, and studying is studying how best to use the CTCA campus, which is less than two miles from Temple University Hospital in North Philadelphia.

CTCA, based in Boca Raton, Florida, operates a for-profit network of five cancer hospitals. In late 2005 it entered the Philadelphia market taking over what had been Parkview Hospital, a community hospital that was closed by Tenet Healthcare Corp. (NYSE: THC) two years earlier.

CTCA faced formidable competition here from three established cancer care providers in Philadelphia: Fox Chase Cancer Center, Jefferson Health’s Kimmel Cancer Center, and Penn Medicine’s Abramson Cancer Center.

In a statement released when the closing was announced, CTCA Philadelphia President Maria Scenna said Temple “is well-positioned to integrate the hospital into a broader continuum of care, while expanding access to their services for the local community.

“Our top priority will be to ensure the seamless transition of patient care as well as work with Temple Health on employee transitions,” she said. “We are proud that our investment here will continue to be a valuable resource for patients and the community it serves.”

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Penn Medicine and PHMC take over at Mercy hospital in West Philly

Penn Medicine

The University of Pennsylvania Health System early Thursday started running the emergency department at the former Mercy Hospital in West Philadelphia as part of a partnership with Public Health Management Corp., Independence Blue Cross, and Trinity Health, the hospital’s former owner.

The new name of the facility at 501 S. 54th St. is PHMC Public Health Campus on Cedar. In addition to the emergency department, Penn will operate about 100 inpatient beds — including bed for patients needing mental health treatment — under the license of its flagship Hospital of the University of Pennsylvania.

PHMC, which will own the building, plans to add additional services, including primary care, outpatient behavioral health services, and respite care for patients leaving a hospital but needing more recovery time before they can go home, PHMC’s chief executive Richard Cohen said.

Negotiations are underway with the Children’s Hospital of Philadelphia about what services that institution might provide. Cohen said it was possible that CHOP would be the second biggest tenant in the building behind Penn.

Penn, which is investing $30 million in the project, prepaid its $10 million lease, so PHMC could use that money to buy the building from Trinity, said Kevin Mahoney, CEO of Penn’s health system. Mahoney said Penn didn’t want to take over the whole building because it’s too big for Penn’s needs there.

Penn executives hope that over time with a stronger primary care base that the emergency room won’t need to have 48,000 visits a year, as it was doing, Mahoney said. “If we’re effective, 10 years from now, we don’t need beds or the emergency room because we’ve put other ambulatory services in place, doctors offices, primary care, maybe some specialty practices, better imaging.”

In a recent credit report, Standard & Poor’s described the effort at Mercy as an example of strong leadership at Penn Medicine.

“UPHS spearheaded the creation of a new entity, in partnership with other market participants, to assume control of a soon-to-be-closed neighboring hospital to spare the local community from a possible healthcare desert and prevent an influx of volumes at its already high-census downtown campuses,” S&P said.

Mercy, which was licensed for 157 beds when Trinity owned it, employed 800 in September when the sale to PHMC was announced. Penn said it offered jobs to 500 former Trinity employees in the areas of the hospital it is taking over. That includes jobs with vendors for food service and cleaning.

A job fair is scheduled for April 14 for openings in nursing, clinical operations, and support staff roles, Penn said.

*Article courtesy of The Inquirer

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

New Hahnemann Landlord Aims to Keep Drexel Labs in Philly, as school eyes Move to Former GSK Site in Montgomery County

Investment group Iron Stone Real Estate Partners has a deal to buy a section of the former Hahnemann University Hospital campus on North Broad Street that’s partly occupied by Drexel University’s medical labs.

But Drexel may not be sticking around for long: It is in talks to move those researchers to GlaxoSmithKline’s former pharmaceutical plant in Montgomery County.

Drexel is considering leasing about 300,000 square feet at the Upper Merion site to consolidate medical researchers now spread between the New College Building at 15th and Vine Streets on the former Hahnemann property and at its Queen Lane Campus in East Falls, said Alan Greenberger, Drexel’s newly appointed vice president of real estate and facilities.

Although Drexel’s “long-term” aim is to locate those labs near the school’s main campus in University City, there is no such space in the pipeline for delivery before its Hahnemann campus lease expires in mid-2022, said Greenberger, previously a city economic development official under then-Mayor Michael Nutter.

Separately, the University of Pennsylvania is said to be exploring a deal to lease space at the former GSK plant that includes an animal-research lab previously used by the drugmaker.

The suburban facility is coming into play as Philadelphia’s universities and other medical institutions come up against a dearth of available lab space in the city for life-science research, which has been a bright spot for the regional economy, said Joseph Fetterman, who leads the life-sciences practice at commercial real estate firm Colliers International.

Lab users “are working hard to find the right solution that aligns timing with the specialized nature of their needs,” Fetterman said. “There aren’t that many places to go.”

What once was the Hahnemann campus sprawls over nearly six acres, centered on Broad Street along the Vine Street Expressway, comprising seven medical buildings, a parking garage, and surface lots.

Iron Stone is under contract to buy the campus’ New College Building and other properties comprising about 800,000 square feet currently owned by Harrison Street Real Estate Capital of Chicago, said Jason Friedland, an Iron Stone partner.

The deal does not include the attached main hospital tower at Broad and Vine Streets or other properties owned by California-based investment banker Joel Freedman, who teamed with Harrison Street to buy Hahnemann and St. Christopher’s Hospital for Children near Kensington in 2018.

When Harrison Street and Freedman acquired the hospital properties, they set up the deal so that a separate Freedman-backed company called Philadelphia Academic Health System would lease most of that space as the operator of Hahnemann and St. Christopher’s.

Because of that arrangement, Harrison Street and Freedman’s group were able to retain ownership of the hospitals’ real estate when Philadelphia Academic filed for bankruptcy protection in June 2019.

Iron Stone bought St. Christopher’s and surrounding properties from Harrison Street and Freedman affiliates for $65.3 million in February 2020 so it could lease the hospital building to Drexel and Tower Health, which took over from Hahnemann as Drexel’s hospital partner after the Hahnemann bankruptcy.

At the Hahnemann campus on North Broad Street, meanwhile, Drexel remained a tenant of the medical labs in the New College Building after the bankruptcy left much of the rest of the campus vacant.

Jason Friedland, an Iron Stone partner, said his company agreed to buy that building and other Harrison Street-owned properties under the premise that Drexel would opt to have a new lab facility built for itself in University City within the next few years.

In that case, Iron Stone would aim for a deal with Drexel to renovate its existing lab space at the New College Building to tide over the university until its new facility is completed, Friedland said.

“There are other paths if they say ‘No,’ but we are going to try our best to provide them with something that helps them stay in the city,” he said. “We’ve literally said to them: ‘Just tell us what you need.’”

Greenberger said Drexel has multiple locations under consideration, but the only one he would discuss was the former GSK site at 411 Swedeland Rd. in King of Prussia.

Drexel has struck past development agreements with Wexford Science & Technology LLC and Brandywine Realty Trust. Both are building large office and lab complexes within blocks of the school’s main campus.

Greenberger declined to comment on whether Drexel was in talks with either developer about lab space for the university being included in their University City projects — uCity Square for Wexford and Schuylkill Yards for Brandywine.

A Wexford official declined to comment on Drexel’s lab plan. Brandywine did not respond to a message.

“A new building takes a bit of time to design and build, and we have leases that are expiring next year,” Greenberger said. “One way or another, we have to do something.”

If Drexel does move its labs to the former GSK space, it would be a boon to owner J. Brian O’Neill, a Main Line developer who has been promoting the property as part of a planned network of lab and office buildings occupied by life-science tenants.

The other components of what he has dubbed Discovery Labs consist of the Philadelphia Inquirer’s former Schuylkill Printing Plant and office-park buildings that O’Neill’s business bought from Liberty Property Trust.

Currently, the only known tenants at the 972,000-square-foot GSK building are the drugmaker itself, which remained at the site as a lessee, and Wuxi Biologics, a Shanghai-area-based biotechnology company. Together, the two occupy 120,000 square feet of the complex.

Penn is also in discussions to lease the animal-research lab — a “vivarium” — at the building that had been left behind by GSK when it sold the property, according to a person familiar with that university’s plans. The school has an immediate need for such a facility that the GSK site may be able to fulfill, the person said.

A Penn spokesperson did not respond to a message. O’Neill, who is also founder of the substance-abuse chain Recovery Centers of America, declined to comment on discussions with Drexel and Penn.

*Article courtesy of The Inquirer

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

D.C. Real Estate Firm Proposes $190M Life Sciences Building in University City

A Washington, D.C., real estate company plans to develop a $190 million, 185,000-square-foot life sciences building in University City that will also have manufacturing space, setting it apart from some of the other proposed or newly constructed properties that cater to these companies.

Republic Properties Group entered into a 90-year ground lease with SEPTA on a parcel at 125 N. 32nd St., which sits between Powelton and Market streets. The site is adjacent to SEPTA’s Powelton Rail Yard and overlooks the Schuylkill Expressway.

Republic is partnering on the project with Richard Hayden, who co-founded Philadelphia real estate firm PHL Next Stage Med LLC.

The proposed 11-story building will be called Ultra Labs and is being billed as “one of the world’s most advanced cell-and-gene therapy research, development, and fully engineered [Certified Good Manufacturing Practices] production centers.”

In the race to land tenants and develop buildings catering to life sciences companies, providing manufacturing space will be a differentiator.

Republic Properties will join Brandywine Realty Trust (NYSE: BDN) and a partnership involving Wexford Science and Technology and Ventas Inc. (NYSE: VTR) in pursuing the development of life sciences real estate in University City. The desire to fill vacant office space in Center City has also prompted landlords to explore converting existing space to cater to life sciences tenants who don’t want to wait for new developments to be completed.

Though an experienced developer, Ultra Labs is the first lab-office-manufacturing project Republic Properties has undertaken and its first in Philadelphia. The company’s interest is another example of Philadelphia increasingly attracting outside real estate investors looking to seize upon its growth in life sciences. Silverstein Properties of New York and GIC, an investment arm of the Singapore sovereign wealth fund, have also made significant investments in Philadelphia life sciences real estate development.

“I think Philadelphia is a special place because of its concentration of expertise and institutions and that, coupled with its position on the Northeast Corridor and proximity to New York and Washington, D.C., vis-à-vis the National Institutes of Health, make it very special from a locational standpoint,” said Steven Grigg, president and co-founder of Republic Properties. “The project in many ways is unique.”

Ultra Labs was designed from the outset to incorporate both lab and manufacturing space, Grigg said. Manufacturing spaces will have mezzanines and floors sized such that natural light flows into the core. Elevators catering to the different spaces were located and placed in separate areas. Emergency and redundant power sources were also incorporated into the design.

L2P, a Philadelphia architecture firm, designed the space.

Grigg and Robert Scheer of Scheer Partners Inc., which will oversee leasing the space with colleague Tim Conrey, believe tenant interest for this specialized space will support its development. In fact, Sheer predicts that current and future demand by life sciences firms in Philadelphia will fill the projects that are in the works including Ultra Labs.

“We actually think Philadelphia could become one of the top-tier clusters in the United States,” Scheer said, adding that Ultra Labs is positioned to seize upon that demand because the ability for companies to do small scale manufacturing on site.

“There are other buildings that can support lab but this building has been designed specifically for cell-and-gene labs and the ability to CGMP manufacturing,” Conrey said. The building sits in a Federal Opportunity Zone.

Grigg expects to break ground on Ultra Labs by year end.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philadelphia Medical Office Campus Trades for $53M

BG Capital has sold its medical office campus in Philadelphia’s Port Richmond neighborhood for $53.1 million.

The campus, comprising three medical office buildings, was purchased by the New Jersey-based commercial real estate company, the Hampshire Cos., and its international investment partner, Arbah Capital.

The sale resulted in BG Capital BG Capital has sold 90% equity ownership to the Hampshire Cos. for the three properties.

The campus’ three assets consist of a renovated 200,000-square-foot, multi-tenant office building, located at 2301 E. Allegheny Ave., a renovated 30,000-square-foot, single-tenant medical office building, and a new 16,000-square-foot, ground-up recreational facility for a medical office tenant.

BG Capital originally acquired the formerly-distressed campus properties in 2017. The company then completed a renovation program for more than 230,000-square feet of medical office space.

The firm coordinated a full lease-up of 100% occupancy with existing anchor tenants and new healthcare providers and users at the renovated buildings.

The campus is currently tenanted by Temple University Health Systems, Pediatric Dental Advisors, Ambrosia Treatment Centers and others.

Additionally, BG Capital and the Hampshire Cos. have recently formed a strategic joint-venture partnership to develop 7.1 acres of land, located near the campus at 2201 E. Allegheny Ave.

“We are very proud to revitalize a large Medicare facility in our home city of Philadelphia,” states Joseph Byrne IV, managing partner of BG Capital. “The jobs that were saved, and the additional jobs that were created in this process, along with the new and existing services provided to the community, truly define the success of this project. Our firm’s new strategic partnerships established with both domestic and foreign investors, are a testament to what has been and can be accomplished moving forward on future development projects.”

“The execution of a complex transaction of this magnitude in the middle of a global pandemic is an incredible representation of the proficiency and fortitude of our team here at BG Capital,” says Tyler Huffman, senior associate at BG Capital. “We are extremely excited to build off the relationships, knowledge and experience we have acquired through the development of this project to help propel the company moving forward into larger endeavors and deal sizes. In the end, being able to help bring additional healthcare services to a facility and area in need is an exceptionally rewarding project for all that were involved.”

*Article courtesy of Globest

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Penn Medicine Opens $80M Instrument Processing Center in Philadelphia

Penn Medicine on Monday officially opened what it is describing as the largest instrument processing and surgical supply preparation facility in the country.

Workers at the $80 million, 110,000-square-foot Interventional Support Center in Southwest Philadelphia will sterilize and package thousands of instruments each day for use in surgeries and procedures. The instruments to be sterilized and packaged range from basic scissors and clamps to advanced robotic devices.

The center at 3250 S. 76th St. was created to combine instrument processing services at the Hospital of the University of Pennsylvania and Pennsylvania Hospital along with three outpatient facilities: the Perelman Center, Penn Medicine Radnor, and the Tuttleman Center. Penn Medicine’s new $1.5 billion Pavilion, opening later this year, will also be served by the Interventional Support Center when it opens this fall.

The facility — which the health system said is also the first of its kind in Pennsylvania — opened with 140 employees who came over from on-site instrument processing facilities. In addition, 25 new employees were hired for the facility.

Chris Pastore, the facilities managing director, said the opening of the center marks a new approach for Penn Medicine.

“By moving our processing operations from the traditional hospital setting to an offsite, dedicated facility, we’re able to increase efficiency in a cost-effective way — all while keeping up with increasing demand,” Pastore said. “Plus, the [center] alleviates space at our clinical locations, providing the breathing room hospital departments need to expand services.”

As an example, he said, the opening of the Interventional Support Center will enable the health system to dedicate more space to patients at the 500-patient-room Pavilion.

The facility includes features that enhance sterilization efficiency, such as the use of clean steam using reverse osmosis water and airlocks throughout the building to prevent the cross-contamination of air between areas where dirty instruments are processed and clean ones are repackaged.

The $80 million cost for the center represents land acquisitions cost, infrastructure, and the facility itself. Penn officials said the site also has additional space that may be used for future projects.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philly Medical Space for Sale or Lease in Port Richmond

Wolf Commercial Real Estate, the leading Philly commercial real estate broker with experience in Philly commercial real estate listings and services, now has available Philly medical space for sale or lease at 2201 East Allegheny Avenue Philadelphia PA in the city’s Port Richmond neighborhood.

Please call for the asking sale price and the asking lease price of this Philly medical space for sale or lease. This Philly medical space for sale or lease is being offered by Wolf Commercial Real Estate, a Philly commercial real estate brokerage firm that specializes in Philly commercial real estate listings and services.

The main building of this Philly medical space for sale or lease contains +/- 120,000 sf in five stories while the secondary building of this Philly medical office space for sale or lease has +/- 8,000 sf on one floor. Overall, this Philly medical space for sale or lease at 2201 East Allegheny Avenue Philadelphia PA sits on seven-plus acres.

This medical space for sale or lease in Philly is part of a fully approved development aiming to provide premier medical space for Northeast Philadelphia. There also is a branding opportunity available for this medical space in Philly. In addition, the tenant of this medical space in Philly will reap the benefits of a city tax abatement for new construction over its first 10 years of operation.

This medical space for sale or lease in Philly at 2201 East Allegheny Avenue Philadelphia PA is available through Wolf Commercial Real Estate, a Philly commercial real estate broker that specializes in Philly commercial real estate listings and services.

This medical space for sale or lease in Philly is less than a half-mile from the Allegheny Station of the SEPTA Regional Rail Line and this Philly medical office space for sale or lease is a similar distance from Exit 25 of Interstate 95.

This Philly medical office space for sale or lease provides parking for patients, visitors, and employees. This medical space in Philly is in a rapidly developing and gentrifying neighborhood of North Philadelphia.

For more information about this Philly medical space for sale or lease at 2201 East Allegheny Avenue Philadelphia PA, or about any other Philly commercial properties for sale or sale or lease, please contact Andrew Beauchemin (215-799-6145; andrew.beauchemin@wolfcre.com), or Mitch Russell (215-799-6143; mitch.russell@wolfcre.com) at Wolf Commercial Real Estate, a leading Philly commercial real estate brokerage firm.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philly commercial real estate broker that provides a full range of Philly commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philly commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Philly commercial properties for sale or lease or sale through our Philly commercial real estate brokerage firm.

Design of Brandywine’s Proposed $300M Schuylkill Yards Life Sciences Building Takes Shape

Brandywine Realty Trust is working to pre-lease a proposed $300 million, 500,000-square-foot life sciences building at its Schuylkill Yards campus in University City and expects to buy a lease hold interest in the site during the first half of 2021.

It will strike that long-term lease deal at 3151 Market St. with Drexel University, its partner on the campus and expects to begin construction based on market conditions and meeting a certain level of pre-leasing.

As demand for space by life sciences companies continues to rise amid waning interest in traditional office tenants, landlords are positioning new buildings and existing spaces that will be converted to capture some of those firms. One way they are doing that is through design.

In the case of Brandywine, the Philadelphia-based real estate investment trust enlisted Gensler as the architectural firm to design 3151 Market. In an interview, Managing Director Doug Gensler shared his thoughts on what goes into the design of a research building that has both office and lab space and is competing with other buildings vying for similar tenants.

What is your approach to a building such as 3151 Market? As a design firm, we think about our work through a user experience and making sure the environment being created is enabling the activity that is intended to happen there. When we look at a science building, we are thinking critically around the way scientists work and how life sciences as an industry is evolving.

You have lots of different activities going on in those buildings but you start with the core function – the lab spaces themselves. There is a lot of range depending on the type of science that is being done and you have to make sure you are not over or under engineering a building to meet their needs. Floor to floor we want to create buildings that are nimble. We want to design a building that never gets in the way of an evolving organization.

How are they structurally different than a typical office building? You have to look at the structural implications of a building. It’s not just floor loading but uses, vibration criteria and planning modules. You have to look at lab benching considerations and other functions that exist within these environments and lay it out in a way that is efficient and effective. You have scientists who are working with other parts of the business and we recognize companies need to build community and organizational culture. On any given day, a scientist may be spending time on the bench, in the office, meeting room, networking or training. We’re making sure we’re not over biasing one of those activities over another activity.

Health and wellness have become more important as a result of the pandemic. How are health and wellness incorporated into the building? We are creating a building that has great light, great views and an opportunity to get outside and get fresh air. These are tactical strategies that the architecture needs to embed. We created an eco porch. We have limited time we can comfortably spend outside with our climate in the northeast so we are trying to create an environment accessible year round, where you are one step closer to nature and can get some fresh air without getting into an elevator and leaving the building. Research has shown that access to fresh air and a change to environment is a stimulant for energy levels and cognitive function and by providing that to employees, you can optimize productivity of individuals. If they go downstairs and outside, you’ve lost them for a half hour. If they go to the eco terrace, they can run into a colleague and have a spontaneous conversation.

How is this like any other building you design? I think the expectation for work environments has risen significantly and I think high performing companies are recognizing they are important to recruit and retain talent. There is pressure on organizations to create a place to inspire them to be here, innovate and work together.

*Article courtesy of Philadelphia Business Journal

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