Thursday, December 5, 2013

Health Network Labs Pays $8.7M for Allentown Flex Bldg

Health Network Laboratories, a local healthcare company, acquired the flex building at 794 Roble Rd. in Allentown, PA from Liberty Property Trust for $8.65 million, or about $85 per square-foot. 

The 101,750-square-foot property was built in 1984 on 16.7 acres in the Lehigh Valley Industrial submarket, part of the Lehigh Valley Industrial Park 3. The building has been vacant since former tenant T-Mobile relocated in the first quarter of 2012. The building features two loading docks with levelators, ceiling heights of 18 feet, and 40-foot by 50-foot column spacing. 

Health Network Laboratories plans on occupying the entire building, and will make this their new headquarters. Health Network approached the sellers directly and settled in about 75 days.

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