906 Bethlehem Pike, Glenside, PA

This medical office building is located in Flourtown, a suburban community in Springfield Township, Montgomery County, approximately 10 miles northwest of Philadelphia, within the Philadelphia MSA. The Philadelphia MSA is the 8th most populated metro area in the United States. The property is strategically located along Bethlehem Pike, a high-traffic thoroughfare with a traffic volume of 20,700 vehicles per day. The surrounding area is densely populated and affluent, with a population of nearly 322,000 and 136,000 households within a 5-mile radius. The average household income within 1 mile exceeds $170,000, $143,000 within 3 miles, and $126,000 within 5 miles. The property is subject to a new twelve-year lease with the University of Pennsylvania Health System (UPHS), featuring 2% annual rental increases throughout the base term. The University of Pennsylvania Health System (UPHS), known as Penn Medicine, is a multi-hospital health system headquartered in Philadelphia, Pennsylvania, with an investment grade credit rating. Two UPenn family and internal medicine practices will relocate to this building. The new practice will consist of internal and primary care departments led by at least nine doctors. The building has a new roof with a transferable warranty, a new HVAC system, new windows, and a new elevator to accommodate a stretcher.