Preston Ridge Medical Workplace Constructing
Stonemont Monetary Group has acquired Preston Ridge Medical Workplace Constructing, an 86,000-square-foot property in Alpharetta, Ga. In accordance with CommercialEdge knowledge, Atlanta Oncology Associates offered the Class A asset for $22.6 million.
The identical knowledge supplier exhibits Preston Ridge was accomplished in 2008 on a 6.8-acre web site. The four-story facility options 28,666-square-foot floorplates, two passenger elevators and managed entry. Stonemont plans to implement a capital enchancment plan on the property in early 2023, Senior Vice President Matt Stone mentioned in ready remarks.
The property homes three single-specialty surgical procedure facilities and medical companies supplied embrace cosmetic surgery, dermatology, ENT and gastroenterology. Northside Hospital is the ability’s anchor tenant, offering most cancers care companies; Atlanta Pores and skin Most cancers Specialists, Emory Healthcare and Y Plastic & Reconstructive Surgical procedure, amongst others, are additionally on the roster.
The medical workplace constructing is 3330 Preston Ridge Highway, subsequent to Outdated Milton Parkway, roughly 27 miles from downtown Atlanta. Different health-care amenities within the space embrace Northside/Alpharetta Medical Campus and ClearChoice Dental Implant Heart. Emory Johns Creek Hospital is 7.5 miles away.
The medical workplace sector continues to be thriving
In accordance with a current Colliers report on health-care companies, the medical workplace sector now not represents a distinct segment asset class. Medical workplace investments added as much as $17.2 billion over the 4 quarters to Q2 2022, a major enhance from the $14.7 billion within the prior 12 months.
Essentially the most energetic marketplace for medical workplace investments was Los Angeles, adopted by New York, Phoenix and Dallas; Atlanta occupied the fifth place in that rating, with transactions totaling $650 million. In one of many purchases, Lincoln Advisors acquired Northwest Medical Heart, a 149,202-square-foot medical workplace constructing situated 8.4 miles from downtown Atlanta.
