Medical Office Investment Opportunity
Listing was updated at: 05/08/2019
Property Overview
Price/Rent PSF $ 5,895,000.00
Asset Type Office
Trade Type Sale
SQ. FT. Available 41,000
Date Available 05/08/2019
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Floors 3
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Description

Location
This 41,000-square-foot property is strategically located
minutes away from Penn State Health Milton S. Hershey Medical Center, one of Central Pennsylvania’s most
successful medical campuses. The medical campus is comprised of Penn State Health Milton S. Hershey Medical
Center, Penn State Children’s Hospital, and University Physicians Center, of which, the subject property is referred to
as the administrative support office. The property is primarily leased to Penn State Health Milton S. Hershey Medical
Center, and is comprised of a well-rounded mix of other medical and professional office tenants, including East
Chocolate Dental, Nestico Drudy, PC Law Firm, Keller Williams, and Option Insurance. The subject property is ideally
positioned within 2 miles of Downtown Hershey, PA. home to Hershey Amusement Park and Attractions, and is
located on a major thoroughfare through the area with average daily traffic counts of over 20,000.
Penn State Health Milton S. Hershey Medical Center – “Med Center” - currently occupies 55 percent of the subject
property, occupying 2,726-square-feet on the first floor, the entire the second floor, and an additional 5,716-square
feet on the third floor. The Med Center also pays rent for 2,161-square-feet of Common Area on the first and third
floors at the same rate and terms as their office space. Penn State Health Milton S. Hershey Medical Center is one of the top rated multi-specialty healthcare centers in Central Pennsylvania.

Sale
97.45% occupied, Class B+ medical office building located in Hershey,
Pennsylvania
Anchored by Penn State Health Milton S. Hershey Medical Center; recently
expanded occupied space to 55 percent of the gross Rentable Space
Current tenant roster is comprised of a well-rounded mix of other medical and
professional office tenants; tenants include East Chocolate Dental, Nestico
Drudy, PC Law Firm, and Option Insurance, & Keller Williams
Located minutes from Penn State Health Milton S. Hershey Medical Campus;
Less than Two Miles from Downtown Hershey, PA, Home to Hershey
Amusement Park and Attractions
Remodeled in 2005 and then again in 2016-17; current owners completely
renovated interior & exterior during most recent building upgrades; Owners
have Invested over One Million Dollars in improvements
New fiber-optic Lines run throughout the building; existing and future tenants
have ability to connect
PSHMC's commitment to this location is robust; PSHMC has invested major
capital into their space finishing, tenant fit-outs, and upgrades
Dental tenant operator, East Chocolate Dental, runs five dental practices in
the Region; Strong Sale Lease-Back Tenant, Value-Add

Location