Allentown, PA —Feinberg Real Estate Advisors, LLC and KW Commercial partnered with Auction.com to sell 501 N. 17th St., a 22,000 s/f medical office building located in Allentown.
Cindy McDonnell Feinberg of Feinberg Real Estate Advisors and KW Commercial represented the seller, Liberty Allen Square, LLC and the buyer, Sunstar Medical Center, LLC in the transaction. At the time of the sale of the property was 65% occupied. The property sold for $1.281 million.
The partnership with Auction.com provided an opportunity to present the property to investors not typically considering properties in the Lehigh Valley. The joint marketing and selling process enabled the team to present the property to unique investors and close the transaction quickly.
“It was a pleasure to complete this sale on behalf of Liberty Allen Square, LLC,” said McDonnell Feinberg. “I had the pleasure of helping with my client’s acquisition of the property twelve years ago and appreciate being involved as the investment property will continue to add value to the new owner.”
Liberty Square Medical Center’s central location provides opportunities for practices associated with Lehigh Valley Health Network and St. Luke’s University Health Network.