Transwestern Providing Leasing Services for Additional 133,000 SF in Metro Atlanta
December 14, 2021
ATLANTA – Transwestern Real Estate Services (TRS) announces its Atlanta Healthcare Advisory Services team has been selected to provide exclusive leasing services for three medical office buildings in metro Atlanta. Transwestern Senior Managing Director Steve Hall, Managing Director John V. Lopez and Senior Associate Bo Stuart are providing leasing services on behalf of Caddis® for the following properties:
- 2045 Peachtree, a 76,000-square-foot medical office tower at 2045 Peachtree Road NW in Atlanta’s Buckhead neighborhood, across from Piedmont Atlanta Hospital and The Shepherd Center.
- Fayetteville Medical Pavilion, a new 36,000-square-foot, three-story medical office building under development by Caddis, at 936 West Lanier Ave. in Fayetteville, Georgia.
- 620 Cherokee St., a 21,333-square-foot, two-story medical office building less than a quarter mile from Wellstar’s flagship Kennestone Hospital in Marietta, Georgia.
“As a leader in healthcare real estate, Caddis develops and invests in premier medical office properties that deliver high value to tenants, operators and the surrounding communities. We’re thrilled to expand Transwestern’s partnership with the firm and bring high-quality, well-located office opportunities to our network of medical users,” said Hall. “Each Caddis property is strategically positioned across from or near major medical facilities, offering unparalleled synergy and access to a broad patient base.”
Together with 575 Professional Drive at Northside Gwinnett Hospital, an 81,269-square-foot healthcare building in Lawrenceville, Georgia, Transwestern’s Atlanta office provides leasing services for approximately 215,000 square feet of medical office space for Caddis and the MOB acquisition funds that it controls.
“Transwestern’s team of professionals brings deep knowledge of the market and strong relationships with many healthcare systems, medical groups, and physicians to benefit our medical building assets,” said Olga Teseniar, Director, Asset Management for Caddis. “I’m confident in the team’s ability to source and secure new leases and renewals that support our business goals and objectives.”
According to Transwestern research, medical office demand in metro Atlanta rose in the third quarter as healthcare providers continue to expand their services, locations and workers to accommodate the region’s growing population. Atlanta’s third-quarter net absorption was the highest recorded since 2018 at 129,911 square feet, and vacancy declined to 8.3%.
“The appetite for quality medical real estate investments from capital markets remains strong and as a result, we are continuing to see cap rates compress as more capital is entering the space,” said Lopez.
Photo available for download here.
Caddis® is a national real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis has developed or acquired nearly 5 million square feet of medical assets valued in excess of $1 billion. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as one of the top ten largest, currently ranked 7th, healthcare development companies in the United States. For more information about Caddis, please visit www.caddis.com.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.