Transwestern Brokers Sale of Medtail Facility Fully Leased by Piedmont Healthcare
July 27, 2023
ATLANTA – Transwestern Real Estate Services (TRS) announces it has brokered the sale of a Class A, 26,216-square-foot medical office building at 2976 Chapel Hill Road in Douglasville, Georgia. Senior Managing Directors Kevin Markwordt and Steve Hall represented the seller, WDG Real Estate Partners, in the transaction to LOR-PUC Douglasville LLC for $11.2 million, or $428 per square foot.
Redeveloped and expanded in 2023 to Class A finishes, the 100% occupied property is anchored by Piedmont Healthcare, offering an extensive range of medical services, including outpatient orthopedics, cardiology and primary care.
“2976 Chapel Hill Road appealed to investors seeking a high-quality medical office building with strong nearby amenities, immediate freeway access, excellent site visibility and a stable income stream from investment grade-credit tenancy,” said Markwordt.
The medical building is strategically positioned in a highly trafficked, dense retail corridor with 5 million square feet of product. The market boasts exceptional demographics, with nearly 100,000 residents within 5 miles, an average home value of $235,900 and an average household income of $86,209.
“With a keen focus on project quality and a deep understanding of the area's tremendous retail and residential growth, WDG's strategic renovation has created spaces that deliver immediate and long-term value for both the owner and tenants,” said Hall.
An image of the property is available for download here.
About WDG Real Estate Partners
WDG is a leading development company providing turn-key, full-cycle build-to-suit development and re-development services for retail projects of all sizes and scope with a proven commitment to delivering exceptional service fueled by innovative and effective strategy, expertise, and efficiency. Our comprehensive offerings encompass site selection, land acquisition, site layout, value engineering, permitting, zoning, and construction management, ensuring successful and seamless project delivery.
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 Capital Markets, Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, 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, investment management, and opportunistic endeavors for high-net-worth investors. 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.
Media Contact:
Jaime Luckey
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jaime@luckeycomms.com
twmediarelations@transwestern.com
