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| Kris Redding |
ATLANTA, GA – Ackerman
Medical, a division of Ackerman & Co., represented Academy Orthopedics in
the sale of its three-building, 25,643-square-foot medical-office portfolio
located in Buford and Cumming, Ga., in north metro Atlanta.
Nevada-based Stable Development Company
purchased the properties for $5.26 million.
Ackerman Medical’s Kris Redding
and Andrew Murphy of Highgate Partners represented ownership in the
transaction and Beau Terrell of Highgate Partners represented the buyer.
Currently 90% occupied, the
portfolio is approximately 50% leased to Academy Orthopedics, with Northside
Hospital Imaging, Select Physical Therapy and Benchmark Therapy rounding out
the tenant roster.
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| Andrew Murphy |
“This portfolio offers the buyer a
strong tenant mix with exceptional credit and steady cash flows thanks to the
nearly five-year average remaining lease terms,” said Redding.
“The tremendous residential growth taking
place in these two micro markets will also help drive future demand for the
medical services provided at these three medical facilities.”
The portfolio is comprised of 318
Tribble Gap Road in Cumming, Ga., a 14,643-square-foot, two-story building
built in 1995; and 3919 & 3929 Carter Road in Buford, Ga., two single-story
buildings built in 2006.
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| Beau Terrell |
Headquartered in Atlanta, Ackerman
& Co. is a privately held, full-service commercial real estate firm focused
on providing quality investment, brokerage, management and development services
in the Southeast.
The company, founded
in 1967, retains an expert team of more than 100 real estate professionals.
To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion.
To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion.
Since 2000, Ackerman Medical has
developed and owned nearly 2 million square feet of medical office space across
metro Atlanta. As a leading owner and developer of medical office buildings,
Ackerman Medical manages its properties to the highest institutional standards.
CONTACT:
Steve
Webb
Marketing Research Coordinator
P: 678.993.2935 F: 770.913.3966
………………………………………………………………………………………….
Ackerman & Co.
10
Glenlake Parkway, South Tower, Suite 1000
Atlanta,
Georgia 30328
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