Crouse Medical Center at 5000 Brittonfield Parkway in Syracuse — Courtesy: JLL
By Joshua Burd
A Mahwah-based commercial real estate investor has acquired a two-building medical office complex in Syracuse, New York, in an $18 million sale arranged by JLL.
Brokers, including members of JLL’s New Jersey team, announced Wednesday that ICONIC Property Partners has purchased the 173,466-square-foot Crouse Medical Center at 5000 Brittonfield Parkway. The real estate services firm marketed the property on behalf of the seller, Brittonfield Associates, noting that its new owner has assumed the existing loan.
JLL Director Steven Rutman, Managing Director Ben Appel, Senior Managing Director Jose Cruz and Managing Director Rob Rizzi led the capital markets team on the assignment.
Located adjacent to Interstate 481, Crouse Medical Center includes a one-story medical office building along with a three-story professional office building that is transitioning into a medical office, JLL said. The 88.8 percent-leased property is anchored by Crouse Health System, which is a two-hospital, 514-bed, nonprofit integrated health network in the area.
Crouse Hospital’s services at the complex include neurology, women’s care, internal medicine, physical rehabilitation, cardiology and imaging along with non-hospital clinical services.