PHCS Signs Agreement to Sell Princeton, West Windsor Properties

Oct 19, 2012

Princeton HealthCare System (PHCS) has signed an Agreement of Sale that would transfer three Princeton properties and one in West Windsor to an affiliate of Wythe Capital LLC, a commercial real estate firm with locations in Princeton and Manhattan.

Under terms of the sale, Wythe would take ownership of 277 Witherspoon St., 281 Witherspoon St., and 208 Bunn Drive, all in Princeton, and 88 Hightstown Road, West Windsor. The sale is expected to be closed in December 2012.

"We selected Wythe Capital after a lengthy, careful process," said PHCS President and CEO Barry S. Rabner. "The principals have more than 40 years of experience managing commercial real estate, and they will maintain these locations as Class A properties that continue to serve the community, primarily as medical offices."