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    50 Innovation Way Reading, PA 19610

    For Lease
    Contact for pricing

    Modern Medical/Executive Office Suites

    Lot size:
    180,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This Class A, 6-story, 180,000 square foot medical office building, constructed in 2021, offers exceptional space in Reading, PA's Wyomissing submarket. Located at 50 Innovation Way, near Park Road, the building boasts 60,000 square feet of immediately available space, divisible into minimum 30,000-square-foot units, with a maximum contiguous space of 30,000 square feet. The building features ample parking (85 spaces) and elevators. Its prime location in Berks County provides easy access to major transportation routes. The building's modern design and amenities are ideal for medical, executive, or creative office users. Zoned commercial, this property presents a unique opportunity to establish a presence in a thriving area, adjacent to the Drexel University College of Medicine at Tower Health. The building's strategic location and modern design make it an attractive option for businesses seeking a prestigious address and state-of-the-art facilities. This is a rare opportunity to secure space in a newly constructed, high-quality building in a desirable location.

    Property Features for 50 Innovation Way

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    180,000 SF
    Class
    A

    Building Details

    Year Built
    2021
    Stories
    6

    Unit(s) available at that property

    Space
    5th Floor
    Size
    30,000 SF
    Space
    6th Floor
    Size
    30,000 SF

    HighLights

    • Lease space in Drexel University College of Medicine at Tower Health's new Wyomissing, PA building.
    • Modern, newly constructed building.
    • Approximately 60,000 square feet available.
    • Top two floors ready for occupancy Fall 2021.
    • Adjacent to Teleflex.
    • Convenient to Reading Hospital and West Reading/Wyomissing business and retail areas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.956151200649
    Latitude
    40.341314591408

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    FAQs

    What type of property is this?
    Office space - Modern Medical/Executive Office Suites
    Where is this office space located?
    The property is located at 50 Innovation Way Reading, PA.
    What are key features of this property?
    This property features: Lease space in Drexel University College of Medicine at Tower Health's new Wyomissing, PA building.; Modern, newly constructed building.; Approximately 60,000 square feet available.
    Request Owner's contact information
    50 Innovation Way Reading, PA 19610
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    50 Innovation Way Reading, PA 19610
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