{"id":1004754593,"date":"2025-04-16T06:48:25","date_gmt":"2025-04-16T14:48:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004754593"},"modified":"2025-11-11T04:45:21","modified_gmt":"2025-11-11T12:45:21","slug":"onicx-group-acquires-72-ksf-medical-office-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/onicx-group-acquires-72-ksf-medical-office-facility\/","title":{"rendered":"Onicx Group Acquires 72 KSF Medical Office Facility"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a0c4a7447a6f&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"547\" height=\"410\" data-attachment-id=\"1004754596\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/onicx-group-acquires-72-ksf-medical-office-facility\/the-merion-building\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/The-Merion-Building.jpg\" data-orig-size=\"547,410\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Merion Building\" data-image-description=\"&lt;p&gt;Exterior shot of The Merion Building, a medical office building in King of Prussia, Penn.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Merion Building was converted into a medical office building in 2000. Image courtesy of Onicx Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/The-Merion-Building.jpg?w=547\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/The-Merion-Building.jpg\" alt=\"Exterior shot of The Merion Building, a medical office building in King of Prussia, Penn.\" class=\"wp-image-1004754596\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/The-Merion-Building.jpg 547w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/The-Merion-Building.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 547px) 100vw, 547px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The Merion Building was converted into a medical office facility in 2000. <em>Image courtesy of Onicx Group<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Onicx Group has acquired The Merion Building, a 71,800-square-foot medical outpatient facility in King of Prussia, Pa., a Philadelphia submarket. Peakstone Realty Trust previously owned the asset, according to CommercialEdge information.<\/p>\n\n\n\n<p>Newmark brokered the deal on behalf of the seller, while Wintrust Bank provided financing. The building was 75 percent leased at the time of transaction.<\/p>\n\n\n\n<p>Originally completed in 1946, the two- and three-story building was converted from a high school into a medical office building in 2000. Additionally, the facility was completely renovated in 2018, the same source shows.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/challenges-create-opportunities-says-mob-investor\/\">Challenges Create Opportunities, Says MOB Investor<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The Class B facility at 700 S. Henderson Road has multiple conference rooms and a fitness center, as well as about 220 parking spaces. The property\u2019s tenant roster includes Liberty Spine Care, Main Line Spine and Delaware Valley Vascular Institute. The new owner plans to implement a capital improvement plan, including interior upgrades and exterior renovations. <\/p>\n\n\n\n<p>The Merion Building is close to Interstate 76 and less than 18 miles from downtown Philadelphia. Philadelphia International Airport is 24 miles away. Other medical providers in the area include Upper Merion Dental Associates, Main Line Dermatology and CHOP King of Prussia Hospital.<\/p>\n\n\n\n<p>This deal marks Onicx\u2019 third acquisition within the last 6 months. In November, <a href=\"https:\/\/www.commercialsearch.com\/news\/onicx-group-acquires-tampa-area-mob\/\">the company acquired <\/a>a two-story, 31,000-square-foot medical office building in Trinity, Fla., part of a three-facility campus.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-mob-sector-holds-steady-despite-uncertainty\">MOB sector holds steady despite uncertainty<\/h2>\n\n\n\n<p>The medical office building inventory is projected to grow by 10.6 percent over the next five years, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/why-mobs-remain-a-strong-bet-for-investors\/\">JLL report<\/a>. Despite the commercial real estate sector currently facing economic uncertainties, this increase is largely driven by aging population,<\/p>\n\n\n\n<p>The final quarter of last year saw a significant drop in construction activity, with new project starts accounting for only 0.8 percent of the existing inventory, a record low. Absorption rates during the same period were remarkably high, surpassing 19 million square feet in the top 100 markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This historic Philadelphia property was previously a high school.<\/p>\n","protected":false},"author":3355,"featured_media":1004754596,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,11,21742,1494],"tags":[50999,49441,51760],"class_list":["post-1004754593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-midatlantic","category-latest","category-philadelphia","tag-newmark","tag-onicx","tag-wintrust-financial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Onicx Group Acquires 72 KSF Medical Office Facility - 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