FOR IMMEDIATE RELEASE – October 2021
Charlotte, NC – MedSouth Management, LLC (MedSouth), acting as the Exclusive Buyer Representative for a private client conducting a 1031 Exchange, is pleased to announce that they advised their client on a successful purchase of a Class A medical office building located at 1021 Darrington Dr , Cary, NC 27513.
The 19,000 square foot medical office was approximately 86% occupied with one second generation medical office suite remaining vacant.
The current tenants are on long term net leases and comprise of a large family practice and an orthopedic physical therapy practice.
The seller was represented by Atlas Stark from Raleigh NC. Atlas Stark will continue managing and leasing the property for the new owner.
The sales price of $6,900,000 represents approximately $363 per square foot.
MedSouth Management, LLC is a boutique, full service healthcare real estate advisory firm based out of Charlotte, NC focused on providing investment sales, leasing and management services for income producing healthcare properties located in the Southeastern United States. The firm specializes in investment sale advisory and representation solutions for physician groups and hospital organizations looking to grow their organization by unlocking the capital in their real estate. MedSouth also works with private investors, developers, and real estate firms that are interested in selling their income producing healthcare real estate.
For additional Press related comments and information feel free to contact: Benjamin E. Bivens Benjamin@MedSouthHCP.com Bill Transou Bill@MedSouthHCP.com
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