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News Release: Just Sold – Hugh R. Black Medical Pavilion, Spartanburg, SC

MARCH 1, 2021

CBRE HEALTHCARE & LIFE SCIENCES CAPITAL MARKETS

JUST SOLD

HUGH R. BLACK MEDICAL PAVILION

Spartanburg, SC

TRANSACTION HIGHLIGHTS

DATE SOLD: 02/23/2021

SIZE: 108,878 SF

OCCUPANCY: 92%

HUGH R. BLACK MEDICAL PAVILION

CBRE U.S. Healthcare and Life Sciences Capital Markets is pleased to announce the sale of the Hugh R. Black Medical Pavilion (the “Property”). Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany and Zack Holderman partnered with Patrick Gildea and Matt Smith from the CBRE Carolinas Institutional Properties team to act as the seller’s exclusive advisors.

The Hugh R. Black Medical Pavilion is a four-story medical office building located on the campus of Spartanburg Medical Center – Mary Black Campus, a 148-bed acute-care facility that has served the upstate region of South Carolina for more than 90 years.

The Property is currently 92% leased to eight tenants and anchored by Spartanburg Regional Healthcare System (Moody’s ‘A3’), a five-hospital system with over 9,000 employees, 700 physicians and over 200,000 emergency center visits per year. Specialties offered by Spartanburg Regional in the building include the Bearden-Josey Center for Breast Health, orthopedics through the Medical Group of the Carolinas (MGC) and outpatient physical therapy services. Other specialties within the facility include dermatology & cosmetic surgery, lab services, infusion, alternative medicine and a fitness center.

For more information, or if we can help with your healthcare real estate holdings, please contact us.

For more information, please contact:

LEE ASHER
Vice Chairman
Investment Properties
+1 404 504 5965

CHRIS BODNAR
Vice Chairman
Investment Properties
+1 303 628 1711

JORDAN SELBIGER
Director
Investment Properties
+1 404 923 1259

RYAN LINDSLEY
Senior Director
Investment Properties
+1 303 628 1745

SABRINA SOLOMIANY
First Vice President
Debt & Structured Finance
+1 404 536 5054

ZACK HOLDERMAN
Senior Vice President
Debt & Structured Finance
+1 858 546 4670

www.cbre.us/cm-healthcare

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