Marcus & Millichap : Arranges Sale of Patient First Urgent Care in Pennsylvania
May 13, 2024 at 05:52 pm EDT
Share
Press Releases
Marcus & Millichap Arranges Sale of Patient First Urgent Care in Pennsylvania
May 13, 2024
LinkedIn Email App
BETHLEHEM, Penn., May 13, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Patient First, a net-leased medical office property located in Bethlehem, Pennsylvania.
Dean Zang and David Crotts, investment specialists in Marcus & Millichap's Washington D.C. office, had the exclusive listing to market the property on behalf of a regional development group, and procured the buyer, Four Corners Property Trust (NYSE: FCPT), a publicly traded real estate investment trust. Tim Stephenson, Broker of Record in Pennsylvania, assisted in closing the transaction.
"This Patient First sale represents our team's fifth Patient First trade, but our first to a Public REIT. Clearly, the stability of the medical/urgent care sector has drawn much attention from investors nationally in the last few years, and this acquisition is further evidence of the same," cited Zang.
Located at 2310 Schoenersville Road, the Patient First property is on a highly visible and accessible 2-acre corner parcel, with daily traffic counts exceeding 36,300 vehicles per day. The asset is conveniently placed near Lehigh Valley Hospital-Muhlenberg, a full-service, 238-bed regional hospital. Additionally, the urgent care is across from a new development set to feature national retailers like Starbucks, Jersey Mike's and Tropical Smoothie.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
Attachments
Original Link
Permalink
Disclaimer
Marcus & Millichap Inc. published this content on
13 May 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
13 May 2024 21:51:05 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
