Northwest Medical Heart
Lincoln Advisors, an affiliate of Lincoln Property Co., has acquired Northwest Medical Heart, a 149,202-square-foot medical workplace constructing in Atlanta. In response to Fulton County information, the corporate paid $71.8 million for the Class A asset. A three way partnership between Harrison Road and HealthAmerica Realty Group bought the property. CBRE brokered the transaction.
Accomplished in 1976, the four-story constructing underwent full renovations in 2016, CommercialEdge knowledge reveals. Vice Chairman Lee Asher with CBRE acknowledged in ready remarks that, on the time of the sale, the property was underneath building for added area on the terrace degree and parking construction. On-site health-care companies supplied embody inner drugs, dermatology, gastroenterology, orthopedics, OB/GYN, bodily remedy, cosmetic surgery and imaging, amongst others.
The property was 81 % leased on the time of closing to 25 tenants with a weighted common remaining lease time period of roughly 9.4 years. Its tenant roster options Dermatology Consultants, Piedmont Inside Drugs, Paragon Sports activities Drugs and Atlanta Orthodontic Specialists, amongst others.
Northwest Medical Heart is situated at 3280 Howell Mill Street NW within the Buckhead neighborhood, 8.4 miles from downtown Atlanta, near Interstate 75. Different medical amenities within the space embody Piedmont Hospital and Myers Sports activities Drugs & Orthopaedic Heart.
The CBRE crew which represented the sellers and procured the client included Vice Chairman Lee Asher, Senior Vice President Zach Holderman, First Vice President Jordan Selbiger, Senior Director Trent Jemmett and Affiliate Cole Reethof.
Medical places of work transaction exercise in metro Atlanta
In response to CommercialEdge knowledge, eight medical workplace buildings bigger than 25,000 sq. toes have traded in metro Atlanta because the starting of the 12 months. Three of them have been Class A properties.
In July, Anchor Well being Properties, along with The Carlyle Group, acquired The Pavilion at Windy Hill, a 90,379-square-foot medical workplace constructing in Marietta, Ga. The identical firm lately purchased one other property 30 miles from Atlanta, a Class A constructing of 96,357 sq. toes, this time in partnership with Chestnut Healthcare Fund II.
