Background
In December 2022, Hammes Partners acquired two medical office buildings totaling 301,000 square feet in the Lehigh Valley region of Pennsylvania. The two medical office buildings include an ambulatory surgery center and are directly adjacent, creating an outpatient medical campus.
Challenge
Hammes Partners targeted a two-building outpatient medical campus anchored by a leading orthopedic practice and two of the largest healthcare systems in the region — a multi-anchor opportunity to acquire a stabilized 301,000 SF asset with broad clinical and surgical tenancy in a single contiguous campus.
Solution
Hammes acquired the two-building portfolio in December 2022. The buildings are 92% leased and are anchored by a leading orthopedic practice in the market and two of the largest healthcare systems in the region.
The buildings include both clinical and surgical tenants that offer a wide range of healthcare services including orthopedics, sports medicine, gynecology, hematology, neurology, bariatrics, primary care, podiatry, ophthalmology, otolaryngology, dermatology, plastic surgery, a sleep center, a cancer center, an infusion center, and imaging.
Project Milestones
- Acquired by Hammes Partners in December 2022.
- Two directly adjacent buildings totaling 301,000 SF, including an ambulatory surgery center.
- 92% leased at acquisition.
- Anchored by a leading regional orthopedic practice and two of the largest healthcare systems in the region.
- Clinical and surgical tenancy across orthopedics, sports medicine, gynecology, hematology, neurology, bariatrics, primary care, podiatry, ophthalmology, otolaryngology, dermatology, plastic surgery, a sleep center, a cancer center, an infusion center, and imaging.
Value Delivered
Hammes Partners acquired a 301,000-square-foot, two-building outpatient medical campus in the Lehigh Valley region against 92% occupancy and three anchor relationships — a leading regional orthopedic practice and two of the region's largest healthcare systems. The campus combines clinical and surgical tenancy across more than fifteen specialties under directly adjacent buildings, delivering portfolio scale and multi-anchor credit in a single transaction.
Frequently Asked Questions
What did Hammes Partners do for the Lehigh Valley MOBs & ASC?
Hammes Partners acquired two directly adjacent medical office buildings totaling 301,000 square feet — including an ambulatory surgery center — in December 2022, forming a single outpatient medical campus.
Where is the Lehigh Valley MOBs & ASC located?
The campus is located in the Lehigh Valley region of Pennsylvania.
How large is the Lehigh Valley MOBs & ASC?
The two buildings total 301,000 square feet and were 92% leased at acquisition.
Who are the anchor tenants of the Lehigh Valley MOBs & ASC?
The buildings are anchored by a leading orthopedic practice in the market and two of the largest healthcare systems in the region. They include both clinical and surgical tenants spanning orthopedics, sports medicine, gynecology, hematology, neurology, bariatrics, primary care, podiatry, ophthalmology, otolaryngology, dermatology, plastic surgery, a sleep center, a cancer center, an infusion center, and imaging.
When was the Lehigh Valley MOBs & ASC acquired?
Hammes Partners acquired the portfolio in December 2022.
