Atkins Companies, a multigenerational commercial real estate development, investment and property management firm in New Jersey, has acquired a 26,174-square-foot medical office building in West Mifflin. The outpatient facility is fully leased by Allegheny Health Network, a subsidiary of Highmark Health Inc., and bolsters Atkins’ portfolio in the rapidly growing Pittsburgh metropolitan area.
Focused on better positioning the asset for the future and creating a state-of-the-art outpatient health system facility, Allegheny Health Network is nearing completion of a major renovation that will transform the design and flow of the interior of the building.
Atkins also owns two other medical office buildings, which are anchored by Premier Medical Associates, a wholly owned physician group of Allegheny Health Network.
“Over the last several years, we have seen drastic shifts in the health care delivery model and a wave of merger and consolidation activity which has dramatically altered the landscape of the medical office asset class,” Atkins Vice President and Director of Acquisitions Cory Atkins said, in a statement. “Fully leased to a credit grade tenant and boasting superior visibility in a quickly growing metro area, 2027 Lebanon Church Road represents an ideal acquisition opportunity in the current market.”
Atkins has more than 600,000 square feet of health care real estate under ownership across the New Jersey, Pennsylvania, Maryland, Connecticut and Ohio markets.