Former Pennsylvania hospital property sold for $22.5M

A former hospital building in Norristown, Pa., has been sold for $22.5 million, the Philadelphia Business Journal reported Jan. 11. 

The 262,000-square-foot building was the former home of Sacred Heart Hospital, according to the report. Montgomery County's Department of Health and Human Services is now the primary tenant. 

The buyer was not disclosed and the transaction is not yet recorded in tax records, according to the report. The seller was Silverang Development Co., which bought the building from Montgomery County for $17.5 million in 2013. Sacred Heart Hospital closed in 1994. 

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