Project Description

St. Luke’s Gastroenterology and Endoscopy Center

1107 Bethlehem Pike,
Sellersville, PA 18960

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Property Type:
SingleTenant Medical Office Building

Portfolio Sale Price:
$4,140,000

Square Footage:
10,000

Major Tenant:
Bux-Mont Gastroenterology

Highlights

•  Fully occupied medical office building totaling 10,000 rentable square feet

•  New 10-year, triple-net (NNN) lease with two percent rental increases every two years  will commence upon the close of sale of the Subject Property

•  Bux-Mont Gastroenterology is comprised of six physicians and two nurse practitioners | Services offered include cancer screenings, colonoscopies, ERCPs, upper endoscopies, liver biopsies, and more

•  Subject property is situated along Bethlehem Pike and South Ridge Road (County-563), both major arteries in the Sellersville region

•  Sellersville an affluent suburb 40 miles north of Philadelphia |Within a three-mile radius, 2018 median household income exceeds $90,000 | Within a five-mile radius, average population exceeds 75,000

Print Details

Contact Agents:

Scott Niedergang Managing Director Direct: (312) 338-7060 Cell: (312) 342-4495 scott.niedergang@cushwake.com
Gino Lollio Managing Director, Healthcare Advisory Practice | Capital Markets Direct: (312) 338-7061 Cell: (239) 810-4714 gino.lollio@cushwake.com

Summary

The Subject Property is a 10,000-rentable square foot, medical office building that is 100% occupied. A new 10-year, triplenet (NNN) lease with two percent rental increases every two years (except for a final rental escalation of half a percent) will commence upon the close of sale of the Subject Property. The Landlord is responsible for roof, HVAC, and structure. Tenant is responsible for operating expenses such as real estate taxes, insurance, and maintenance of the premises.

Bux-Mont Gastroenterology is comprised of six physicians and two nurse practitioners. The center offers cancer screenings, colonoscopies, ERCPs, upper endoscopies, liver biopsies, and more. The Sellersville Endoscopy Center is outfitted with stateof- the-art medical equipment to ensure that each individual patient receives the highest quality care available.

St. Luke’s University Health Network (SLUHN) is a non-profit, regional, fully integrated, nationally recognized network providing services at ten hospitals and more than 315 locations. In 2018, St. Luke’s University Health Network was recognized as the best hospital and health system by Lehigh Valley Business.

The Subject property is situated along Bethlehem Pike and South Ridge Road (County-563), both major arteries in the Sellersville region. Nearby healthcare facilities include Trivalley Primary Care, Penn Foundation, Grand View Health Hospital, BAYADA Pediatrics, and Fresenius Kidney Care Sellersville.

Sellersville is affluent suburb 40 miles north of Philadelphia. In 2018 the median household income within a three-mile radius exceeded $90,000. The average population within a five-mile radius from the subject property exceeded 75,000.

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