December 28, 2021
SOLD – ARIA HEALTH GI CLINIC NET LEASE – PHILADELPHIA, PENNSYLVANIA
JH Winokur, Inc. is pleased to announce the closing of the gastroenterology clinic real estate sale transaction for the Aria Health Physician Services condominium located in Philadelphia, Pennsylvania. Aria Health purchased the business of Northeast Gastroenterology Associates, Inc. and signed a new longterm lease with the physician owners.
Aria Health Physician Services is a subsidiary of Jefferson Health, the largest healthcare provider in Northeast Philadelphia and Lower Bucks County. Jefferson Health now includes 14 hospitals and more than 40 outpatient and Urgent Care Center locations throughout Philadelphia, Bucks and Montgomery counties in Pennsylvania, as well as Camden and Gloucester counties in New Jersey.
The property is on a busy street with over 32,000 plus average daily traffic count and just off of Roosevelt Blvd., US 1, which is a major thoroughfare. There are over 190,000 people within the three mile radius of the property with strong population growth. Located in Northeast
Philadelphia, a dense area with over 480,000 people in the five-mile radius. The property is down the street from many major national retailers including Giant Supermarket, Walmart and Best Buy. Three major hospitals are within 10 minutes of the property.
The sale of the business and the subsequent signing of the new lease by Aria Health allowed the physician owners to sell the real estate during this time of peak medical real estate sale pricing. The Aria Health credit enabled the physicians to sell without any personal liability on the lease. Aria’s strong credit was very appealing to the private investor that purchased the real estate
Many practice and surgery center owners are considering the sale of their real estate to provide liquidity, diversify their assets or simply to take advantage of the high premium prices medical real estate buyers are paying for quality medical buildings under long-term leases. J.H. Winokur sold the gastroenterology clinic real estate to a private investor.
