Total Investment: $170.1 Million
GLA: 833 Thousand SF
Key Tenants / Affiliations:
Albany Medical Center / Trinity
HTA is one of the largest owners of MOBs in the state of New York, with much of this portfolio focused in the Albany area. The strong government positioning has enabled Albany’s economic efforts to attract more than nine billion dollars of investment into the city. Albany has one of the lowest unemployment rates in the Northeast. The area has also expanded beyond government employment into other economic areas including the growing technology sector.
Albany’s hospitals are focused in the downtown area. The majority of outpatient care is provided through destination community-core locations, such as the ones HTA owns. HTA’s portfolio is highlighted by the Capital Region Health Park, a 260 thousand square foot medical office building with over 20 healthcare providers in the area. This mall serves as a destination for medical care in the Albany suburb of Latham, and allows providers to practice in a self-contained, outpatient healthcare campus that generates beneficial referral patterns. Additional properties include approximately 500 thousand square feet in the Washington Avenue medical corridor, located directly across from major employers in the NYS Harriman Office Campus and the University of Albany campus.