405 Hurffville Cross Keys Highway. Picture courtesy of Avison Younger
Atkins Cos. has acquired a 70,140-square-foot medical workplace constructing in Sewell, N.J. Large Sky Medical offered the Class A asset for $14 million. Principals Scott Martin and Jim Kornick with Avison Younger represented each events within the deal.
The property beforehand traded in June 2022, when Large Sky Medical purchased it from Gordon Realty Administration, in a portfolio transaction price greater than $251 million.
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Dubbed Kennedy Well being & Wellness Heart, the two-story facility got here on-line on a 6.3-acre website in 2009. The property contains a health heart with an indoor swimming pool, medical practices and well being schooling companies.
The brand new proprietor plans to improve the finishes of the constructing and create extra medical house to satisfy the calls for of the medical workplace leasing market. The tenant roster contains Kennedy Health, Rowan Medication and Pediatrics, Choose Surgical Heart and Future Chiropractic Heart.
The property is positioned at 405 Hurffville-Cross Keys Highway, immediately throughout from the Jefferson Hospital Washington Township campus. The ability is 20 miles from downtown Philadelphia, within the southern New Jersey medical hall.
Atkins Cos.’ portfolio presently totals six medical workplace buildings positioned in New Jersey and Pennsylvania. In keeping with CommercialEdge information, one of many property is roughly 1 mile away from the present acquisition.
Increasing a health-care portfolio
For Large Sky Medical, a big deal befell at first of the 12 months when Bahrain-based GFH Monetary Group bought a majority stake within the firm. The transaction adopted a number of 2022 acquisitions centered on Texas markets.
Within the fourth quarter of final 12 months, a $190 million mortgage from Capital One funded a number of Large Sky acquisitions. Investments embrace a 175,752-square-foot life science facility in Faculty Station, Texas and a medical workplace constructing in Houston, in addition to a 122,942-square-foot property inside the Texas A&M Well being Science campus in Bryan, Texas.
