For Immediate Release
Bel Air, Md. (August 31, 2021) – Atkins Companies, a leading multigenerational commercial real estate development, investment, and property management firm, announces the sale of Plumtree Medical Center, a 33,000-square-foot medical office building located at 104 Plumtree Road in Bel Air, Md., to Healthcare Realty Trust. Newmark Executive Managing Director Ben Appel handled sale advisory services for the transaction; Senior Managing Director Jay Miele, Managing Directors John Nero and Michael Greeley and Associate Ron Ott worked in cooperation with Appel.
Acquired by Atkins Companies in December of 2012, Plumtree Medical Center is a single-story medical office building strategically located in between Routes 24 and 924 less than two miles from Upper Chesapeake Medical Center, a 181-bed and 450-physician hospital. The property is also strategically situated near two of the area’s premier research institutions – the U.S. Army’s Aberdeen Proving Ground and Johns Hopkins University.
At the time of their acquisition, Atkins Companies recognized that the building’s high level of visibility and location in one of the area’s fastest-growing retail and business corridors made it one of the area’s premier medical office properties. Leveraging their decades of medical office property management and leasing experience, Atkins Companies aimed to ensure the asset remained a premier medical office destination in the market throughout its ownership.
The building’s prime location as well as several property and building improvements, combined with Atkins Companies’ reputation for superior property management, all contributed to the company maintaining high occupancy through the course of its ownership.
“We take great pride in our decades-long track record of providing state-of-the-art medical office facilities that can meet current and future needs of healthcare tenants,” said Cory Atkins, Vice President and Director of Acquisitions of Atkins Companies. Plumtree Medical Center demonstrates our successful investment strategy and expertise in the medical office asset class. We look forward to building upon this success as we continue to adeptly manage our existing portfolio and identify strategic acquisition opportunities in the months to come.”
To stay connected with Atkins Companies and for updates on the latest transactions and news, follow Atkins on LinkedIn (www.linkedin.com/company/atkins-companies).
About Atkins Companies
Atkins Companies is one of the Northeast’s premier, multigenerational commercial real estate developers, investors, and property managers. As a pioneer in the medical office space, Atkins Companies is a leading developer, investor, and property manager for regional healthcare systems and physician practices, providing state-of-the-art space solutions to meet the growing demand for well-located, Class-A medical office buildings. Driven by a deep focus on creating and maintaining strong relationships, their hands-on and solutions-oriented approach to development, investment, and management breeds successful projects while enhancing the businesses and communities that they serve. For more information about Atkins Companies, visit AtkinsCompanies.com or contact them in their West Orange office at 973-325-7900.
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