On May 27th, 2021, Paragon Outcomes partnered with Omega Industrial Realty to acquire Esmark Center, a 40k SF mixed-use medical office property in Sewickley, Pennsylvania, located within the Pittsburgh MSA. Esmark Center is a Class A mixed-use building, with the majority of the space used by the Heritage Valley Health System, an investment grade tenant. The Property is located off Route 65, a main north-south thoroughfare within Pittsburgh. Heritage Valley Sewickley, a 170-bed hospital which offers a comprehensive range of medical, surgical, and diagnostic services is located one mile to the east. Sewickley is a very affluent area and has served as one of the wealthiest submarkets in Pittsburgh for over 100 years.
“With medical office being a sector of focus due to both current outpatient and demographic trends, we are pleased to announce our second medical office acquisition in the Pittsburgh market,” said Frank Tripoli, Managing Partner and Chief Investment Officer of Paragon Outcomes. “We are excited to partner on this acquisition with Omega Industrial Realty, a very experienced, institutional operating partner.”