Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of the Brookhaven Medical Center in Brookhaven, Georgia.
“The center is fully occupied by Walgreens and Piedmont Healthcare,” says Korey Prefontaine, senior director in Marcus & Millichap’s Atlanta office. “Piedmont Healthcare, which has a proven track record in this market, recently relocated to the site. Both tenants benefit from excellent demographics, accessibility, and exposure along Peachtree Road.”
Prefontaine, Sonny Molloy, senior vice president investments, Bob Johnson, senior director, and Jared Kaye, senior associate, represented the seller, a joint venture between G.H. Anderson & Co. and The Gipson Co.; and they procured the buyer, Caddis Partners LLC.
The property is 48,588-square feet and located at the intersection of Peachtree Road and Colonial Drive in Brookhaven, Georgia, which is adjacent to Atlanta’s Buckhead Business District. The trade area also includes Kroger, Stein Mart, Wells Fargo, Starbucks, Pep Boys, Kauffman Tire, and Town Brookhaven, a 600,000-square-foot mixed-use development. The Lenox Square and Phipps Plaza shopping malls are approximately two miles away, and Oglethorpe University is within a mile and a half. Both tenants have corporate-guaranteed leases and strong investment-grade credit ratings.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed nearly 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
About Caddis
Caddis™ Partners, LLC is a national real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis™ has developed or acquired over three million square feet of medical assets valued in excess of $1 billion. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as the 9th largest healthcare development company in the United States. For more information about Caddis, please visit www.Caddis.com.
Contact:
Gina Relva, Public Relations Director
(925) 953-1716
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