JLL completes $16.6M sale of medical office campus in Charlotte MSA

Serves as Piedmont HealthCare’s largest, all-in-one location in the region

January 16, 2020

CHARLOTTE, N.C., January 16, 2020 – JLL Capital Markets announced today that it has closed the $16.6 million sale of The Piedmont Healthcare Medical Office Campus, a five-building, 91,844-square-foot medical office campus in Statesville, North Carolina.

JLL represented the seller, SMG Leasing Associates, LLC, a real estate group comprising present and former Piedmont Healthcare physicians, and procured the buyer, a healthcare REIT.    

The Piedmont Healthcare Medical Office Campus is currently 93.6% leased and home to Piedmont HealthCare, one of the largest physician-owned and directed multi-specialty medical groups in North Carolina and the Southeast. The group has locations across the market and retains top market share in the region. The five-building medical office campus serves as Piedmont’s largest, all-in-one location, supporting numerous specialties, including pediatrics, dermatology, internal medicine, endocrinology, urology, pulmonology and more. The campus also includes a family-owned and operated retail pharmacy on site as well as parking for more than 500 vehicles. Located at 208 Old Mocksville Road and 129-152 Sherlock Drive, the 14.8-acre campus is adjacent to the Davis Regional Medical Center, a Community Health Systems affiliated hospital, and Interstate 40, providing connectivity to Charlotte and Winston-Salem, both of which are approximately a 40- to 45-minute drive from the property. 

The JLL Capital Markets team representing the seller was led by Director Zack Drozda and Managing Directors Mindy Berman and Daniel Turley. Ryan Gioffre and Bobby Finch from Triad Commercial also assisted the seller in the transaction.

“Piedmont Healthcare is the dominant physician-owned practice in Iredell County,” Drozda said. “The offering represented Piedmont’s flagship, multi-specialty location. As such, there was excellent interest across the spectrum, including private, institutional and REIT investors.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc., a licensed real estate broker. 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit