State College, Pennsylvania – September 4th – Crown MedRealty Partners (“CROWN”), a premier healthcare real estate firm headquartered in Kansas City, Missouri, is pleased to announce the recent acquisition of a physician-owned, two-tenant medical office building (“MOB”) in State College, Pennsylvania.
Located in the heart of ‘Happy Valley’ and just minutes from Penn State’s University Park Campus, the 17,482-square-foot facility is fully occupied by Nittany Eye Associates—one of the largest full-service vision providers in Central Pennsylvania, recently acquired by Keplr Vision—and Geisinger Health System, a leading healthcare institution in the United States that serves over 1.5 million patients annually. Purpose-built for Nittany Eye Associates, this MOB has also served as the operational base for both tenants for over 10 years.
“We are excited about our latest acquisition in Pennsylvania, adding a best-in-class MOB to Crown’s portfolio,” said Chris Nordstrom, Vice President of Acquisitions at Crown MedRealty Partners. “This acquisition reflects Crown’s investment strategy, highlighting our creativity throughout the entire process. We remain dedicated to making strategic investments in select markets, and this asset reflects that philosophy.”
This acquisition adds to Crown’s expanding presence across the Northeastern region.
“I am pleased with the momentum and energy our team has built upon through the third quarter, further reinforcing Crown’s reputation as a reliable buyer in today’s market,” said Brian Beggs, Chief Investment Officer and Managing Partner at Crown MedRealty Partners. “Our ability to execute in a challenging market is a testament to our investment team’s perseverance, our strategic use of industry relationships, and our expertise in creative financial solutions.”
About Crown MedRealty Partners
Crown MedRealty Partners, LLC, (“CROWN”) is a privately owned and vertically integrated commercial real estate firm who specializes and focuses exclusively on healthcare related real estate. Headquartered in Kansas City, Missouri, Crown provides its health system and physician partners with a full range of real estate services including investment and capital solutions, acquisitions, development, property sales, management and leasing. With north of $650 million in completed transactions of medical real estate to date, Crown’s managed portfolio presently includes 100+ properties totaling 1.7 million square feet and spans across 30 states nationwide.
As an industry leader in healthcare related real estate, we believe in thinking creatively, acting with integrity, adapting quickly, and taking a hands-on approach to every deal. If you would like to discuss your future partnership with CROWN, please contact our team at 816-878-6307
