Gwynedd Mercy University has sold 150 acres for $31.5 million to Beacon Capital Partners, a Boston real estate investment firm that intends to use the property to expand its life sciences footprint in the Philadelphia suburbs. 

Beacon already has a presence roughly two miles down the road from the university at Spring House Innovation Park, a 133-acre life sciences campus in Lower Gwynedd it bought for more than $100 million in early 2021.

Beacon’s acquisition of the 150 acres from Gwynedd Mercy demonstrates how companies are eager to secure sites throughout the suburbs and Philadelphia that can be developed into life sciences space. The region’s growing life sciences sector has attracted domestic and international investors. 

The latest came earlier this week when Oxford Properties Group, a global real estate firm based in Ontario, announced it formalized a deal to own and develop 3 million square feet of life sciences space at the Philadelphia Navy Yard with Ensemble Real Estate Investments and Mosaic Development Partners. Another was announced last month and involves a venture among Sterling Bay and Harrison Street Capital of Chicago and Botanic Properties of New York, which plans a 310,000-square-foot life sciences building at 38th and Chestnut streets in University City. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.