CBRE facilitates sale of MOB & ambulatory surgery center in Philadelphia MSA

Philadelphia, PA — CBRE facilitated the sale of the Stone Manor MOB, a 62,750 s/f medical outpatient building (MOB) and ambulatory surgery center located at 2800 Kelly Rd. in Warrington, to Cornerstone Companies.

Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Tom Stone, Doug Rodio, Bruer Kershner and Jerry Kranzel of CBRE’s Radnor/Philadelphia healthcare leasing team to act as the advisors to the seller, Carlino Commercial Development.

Stone Manor MOB is a class A surgery and dialysis center located in the Warrington submarket of Philadelphia. The facility was built in 2007 and was 93% leased at the time of the sale with 9.8 years of WALT. It features a multi-specialty, high-volume ASC with two operating rooms and one treatment room to perform hand and upper extremity, joint replacement, orthopedic, pain management, sports medicine, podiatry and ENT surgeries.

Stone Manor MOB is located along Kelly Road, less than one mile from U.S. Route 611 , providing strong visibility and convenient access to major Philadelphia corridors including I-276 and I-476. The property serves the Philadelphia MSA and benefits from a highly affluent area, with average household income of $169,857, accelerating senior population growth (12% 65+ population growth), and more than 234,000 residents within a seven-mile radius.