Murrysville Commons

Asset Type

Healthcare

Address
4262 Old William Penn Hwy Murrysville, PA United States 15668-1953
Asking Price

Contact for pricing

Sq Footage

22,286

Year Built

2011

Cap Rate

N/A

Additional Attributes

Property Description

Murrysville Commons, a two-story medical office building for sale, consisting of approximately 22,286 sq f rent-able area. The building is currently 89 % occupied including 53 % occupancy from Allegheny Health Network (“AHN”), Standard & Poor’s (S&P) credit rated “A”, and one of the area’s dominant medical care providers with over $2.6 billion annual revenue. The building maintains a strong and diversified rent roll with 100 % medical tenancy and complementary specialties, including Allegheny Orthopedic Associates (AHN), East Suburban OB/GYN (AHN), Irwin Primary Care Associates (AHN), Murrysville Internal Medicine (AHN), along with East Suburban Pediatrics, Metro Vein Centers and Alliance Physical Therapy.

Investment Highlights

• Stable cash flow with 5.7 years of weighted average lease term under triple net leases with contractual annual escalations

• Key outpatient location complements AHN’s continued suburban expansion

• Opportunity for value creation through lease up of the lone remaining vacancy

• Located less than five miles from AHN’s Forbes Hospital Campus, a 315-bed hospital with a 44% market share

• Exceptional visibility and convenient access along U.S. Route 22

• Located in affluent and desirable sub-market of Pittsburgh

• Recent capital improvements, including parking lot resealing and striping

• Available fee simple and free and clear of debt

Listing Contacts
Justin Hill
Justin Hill
EVP, Capital Markets
+65 3159 4021
Vasilios Davos
Vasilios Davos
VP, Production Support
+65 3159 4021
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