Bethlehem Township
Health Center

Acquisition Opportunity:

• Acquisition of a 3 acre parcel located within the newly developed LVIP VII Industrial Park.
• Property was on the corner of the new access road and Freemansburg Avenue, a very busy corridor through Bethlehem Township.
• Property was ideally situated, but also restricted by several covenants of the park developer.

Development Strategy:

• Lehigh Valley Hospital, the Lehigh Valley’s largest health network, wanted to expand their presence in the Bethlehem Township and Northampton County areas.
• They started with a 10,000 square foot requirement that quickly grew to a 28,000 square foot build-to-suit opportunity.
• As the gateway to the newly developed and still being marketed industrial park, the park developer requested significant entry features and architectural requirements.
• Lehigh Valley Hospital required high efficiency mechanical systems and future flexibility within the floor plans.
  

Results Achieved:

• Building got constructed in six months in order to meet the Hospital’s fall occupancy requirements.
• Lehigh Valley Hospital has been very pleased with the HVAC efficiency and the buildings prominent position at the park’s entry way.
• Cash on Cash return was 150%, resulting in an IRR of 100%

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