100% OCCUPIED, FOUR (4) TENANT MEDICAL STRIP CENTER
INVESTMENT GRADE CREDIT TENANTS | LOCATED ALONG MAJOR RETAIL CORRIDOR | PHILADELPHIA MSA
Marketing description
Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a 100% leased, multi-tenant medical office building (MOB) condominium (the "Property") in Collegeville, PA, a borough in suburban Philadelphia. The property is positioned along East 2nd Avenue, benefiting from strong frontage and direct visibility to approximately 25,600 VPD. Ideally located between the Redner's Warehouse Markets anchored Marketplace of Collegeville (0.5 miles to the east) and the Wegman's anchored Providence Town Center (1.5 miles to the west) the medical office building benefits from an established retail corridor, providing convenience and cross-shopping synergy for their patients & employees, allowing for a stronger demographic draw. The property shares a parking lot with TD Bank to the east and is adjacent to Wawa, Truist Bank, FedEx Shipping and The Malvern School & Child Care Center to the west, all facing E 2nd Avenue.
Over 60% of the building's square footage is occupied by investment-grade tenants, providing a highly stable and credit-supported cash flow profile. Jefferson University Radiology Associates, affiliated with Jefferson Health (Moody's: A3), one of the region's leading integrated healthcare systems, anchors the property. Labcorp (NYSE: LH), 3,000 square feet, boasts an investment grade credit rating of BBB from Standard & Poor's. The other two tenants, Allergy & Asthma Specialists and Bryn Mawr Dermatology, have a combined ten offices in suburban Philadelphia. All four Tenants are on NNN leases reimbursing for Operating Expenses/CAM and pay reasonable base rents between $21/SF and $24/SF, with a chance for an increase in rent for Bryn Mawr Dental and Jefferson at the beginning of their option periods as both option rents are to be negotiated. All four Tenants have averaged over eleven (11) years operating at this location with Allergy & Asthma Specialists as the longest tenured Tenant having been here for over 15 years.
The population and number of households within 1, 3 and 5 miles have increased from 2010 to 2020, 2020 to 2025 and are projected to continue to increase in 2030. A big part of the rise in demographics is from the proximity to major life sciences headquarters. The property is located less than two miles from The Bridge at Collegeville, a 340-acre Class A corporate campus comprising approximately 1.89 million square feet of office and laboratory space. The campus serves as a key operational site for Pfizer (NYSE: PFE) and a major regional presence for Dow (NYSE: DOW), while nearby is GSK's (NYSE: GSK) largest U.S. site, a 3,000-employee R&D hub. Additionally, the property is located less than one mile from Ursinus College, a well-established liberal arts institution with approximately 1,370 students and 185 faculty members.
Investment highlights
- PRIME HIGH-VISIBILITY LOCATION – The property is positioned along East 2nd Avenue, benefiting from strong frontage and direct visibility to approximately 25,600 VPD. This prominent exposure enhances tenant branding, improves accessibility for patients and consumers, and supports sustained traffic-driven demand.
- 60% OCCUPIED BY INVESTMENT GRADE CREDIT TENANTS – Approximately 60% of the property is occupied by two investment-grade tenants, providing a highly stable and credit-supported cash flow profile. Jefferson University Radiology Associates, affiliated with Jefferson Health (Moody's: A3), one of the region's leading integrated healthcare systems, anchors the property. Labcorp (NYSE: LH), a leading global life sciences and healthcare company, also occupies a unit within the property and boasts an investment grade credit rating of BBB from Standard & Poor's.
- DENSELY POPULATED, AFFLUENT AREA – Situated in Collegeville, Montgomery County, the property is supported by a dense and affluent trade area with over 127,000 residents and 48,000 households within 5 miles. The average household income surpasses $192,000 within 3-miles; $181,000 within 1-mile; and $162,000 within 5-miles driving stable long-term demand for outpatient medical services.
- PHILADELPHIA MSA: A HEALTHCARE HUB – Collegeville is located 20 miles northwest of Center City Philadelphia in Montgomery County and within the Philadelphia MSA, which is home to nearly 6.33 million residents. The region benefits from a deep consumer base and a highly stable employment sector anchored by nationally recognized healthcare institutions. Philadelphia ranks as the 3rd best U.S. city for healthcare (Healthcare Insider), reinforcing strong long-term fundamentals for commercial real estate investment.
- STRATEGICALLY POSITIONED WITHIN MAJOR LIFE SCIENCE EMPLOYMENT HUB – The property is located less than two miles from The Bridge at Collegeville, a 340-acre Class A corporate campus comprising approximately 1.89 million square feet of office and laboratory space. The campus serves as a key operational site for Pfizer (NYSE: PFE) and a major regional presence for Dow (NYSE: DOW), while nearby is GSK's (NYSE: GSK) largest U.S. site, a 3,000-employee R&D hub. This concentration of globally recognized life sciences and chemical employers creates a powerful embedded demand driver for medical services, supporting daytime population density, referral networks, and long-term tenant stability within the surrounding healthcare ecosystem.
- UNDER 1 MILE FROM STABLE INSTITUTIONAL DEMAND DRIVER – The property is located less than one mile from Ursinus College, a wellestablished liberal arts institution with approximately 1,370 students and 185 faculty members. The close proximity to the campus provides a consistent source of daytime population, ancillary healthcare demand, and community-based visitation.
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