News Release: JLL Sells Duke Health Medical Office Building for $80.5 Million

Ventas acquires Class A facility in Durham, North Carolina, 100% leased to Duke Health

DURHAM, N.C., July 29, 2019 – JLL’s Healthcare Capital Markets experts have completed the sale of a 125,942-square-foot outpatient facility, fully occupied by affiliates of Duke Health, to Ventas, Inc. for $80,500,000. Ventas is an S&P 500 company and a leading real estate investment trust with a diverse portfolio of approximately 1,200 assets in the United States, Canada and the United Kingdom.

JLL’s Mindy Berman served as the exclusive advisor to the seller, the Private Diagnostic Clinic, PLLC (PDC), the 1,800-member faculty physician affiliate of Duke Health.

The five-story, Class A outpatient healthcare facility was constructed and opened in 2018 to consolidate 14 critical subspecialties of the Duke Health enterprise situated in the Southpoint submarket of Durham.  The outpatient center is the largest off campus facility in the Duke Health outpatient network and houses practices in neurology, cardiology, ophthalmology, OB/GYN, pediatrics and primary care. The PDC and Duke University Health System occupy the entire property under long-term net leases.

“Duke Health Center South Durham represents a superior destination for patients located in the South Durham area, who enjoy access to critical subspecialists in a convenient community setting,” explained Paul Newman, Senior Vice President of PDC.

Berman added, “Duke Health Center South Durham was highly sought after by top institutional investors.  The outpatient facility contains the most desired features for delivery of healthcare services in today’s environment – exceptional tenancy by the highly-rated Duke Health enterprise, its world-renowned faculty physicians and new construction with modern functionality for patients and practitioners alike in a low-cost, convenient setting.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

Contact: Scott Sutton
Phone: +1 312 228 2863

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