### Marcus & Millichap Arranges $12.65M Sale of St. Luke’s Health Center in Pennsylvania
Marcus & Millichap has brokered the sale of St. Luke’s Health Center, a 40,000-square-foot outpatient facility located at 125 Smithfield Ln. in East Stroudsburg, Pennsylvania. The property changed hands for $12.65 million.
“Credit-tenant net leases with 10-plus years of lease term attract buyers on a national scale looking for durable, predictable cash flow,” said Alan Cafiero, Senior Managing Director, Investments. “This asset was no exception, as we had multiple offers from across the country, with the eventual buyer coming from the West Coast.” Cafiero exclusively listed the property on behalf of the seller and also procured the buyer.
Situated within the 120-acre Smithfield Gateway mixed-use development, the facility is in close proximity to Interstate 80, Lehigh Valley Hospital-Pocono, and St. Luke’s Hospital-Monroe Campus. The tenant has invested more than $3 million in the buildout, with approximately 13.5 years remaining on the lease, which includes two five-year renewal options.
