The property is located adjacent to Market Common, a Class A 114-acre, lifestyle center located near the Myrtle Beach International Airport. Market Common, opened in 2008, has over 370,000 square feet of shops, nearly 24,000 square feet of offices and 195 residential units.
The acquisition is comprised of an approximately 20,000 SF, two story medical office building which is occupied by multiple tenants including DaVita Dialysis who is on a long term net lease on the entire first floor. The deal also has a value add component by leasing up the second floor.
Bill Transou, Principal and Co-Founder of MedSouth said “The acquisition of Market Commons Medical marks our entry into the Myrtle Beach market area”. He went on to say that, “Not only did this deal make sense with the current income in place but we have the opportunity to add further value by leasing the second floor to one of several prospective medical tenants which have already expressed interest”. Benjamin E. Bivens, Principal and Co-Founder of MedSouth stated “With this acquisition, we are providing the opportunity for quality medical organizations to access the growing and dynamic sub-market of Market Common”. He went on to say that “We see this location as being the perfect place for our medical tenants to serve the growing residential rooftops for the immediate market area”.
MedSouth Healthcare Properties, L.L.C. is a private real estate investment firm based out of Charlotte, NC focused on acquiring income producing healthcare properties located in the Southeastern United States. The firm provides sale leaseback solutions for doctor groups and hospital organizations looking to grow their organization by unlocking the capital in their real estate. MedSouth Healthcare Properties, L.L.C. also works with private investors, developers and real estate firms that are interested in selling their income producing healthcare real estate.
Sterling Fox Group, L.L.C. is a privately held real estate investment company based out of Charlotte, NC, focused on acquiring income producing commercial real estate in the Southeastern United States.
For additional Press related comments and information feel free to contact:
Benjamin E. Bivens
Benjamin@MedSouthHCP.com
Bill Transou
Bill@MedSouthHCP.com
Ira Slomka
islomka@windstream.netSouth
Healthcare Properties, LLC
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