Orthopedic-anchored MOB trades in northwest Atlanta
JLL Capital Markets led sales efforts for Georgia Bone & Joint, sees continued investor interest in healthcare sector
CHARLOTTE, Apr. 21, 2021 – JLL Capital Markets announced today that it has closed the sale of Georgia Bone & Joint MOB, a 55,355-square-foot medical office building in the northwest Atlanta metro community of Cartersville, Georgia.
JLL represented the seller, JEI Investments, and procured the buyer, SG Property Services.
Georgia Bone & Joint MOB is a two-building, orthopedics-focused medical office property anchored by Georgia Bone & Joint Surgeons. The three-story facility serves as a multi-discipline, orthopedic destination that includes an ambulatory surgery center with two operating rooms, MRI and advanced imaging, interventional pain treatment and physical therapy. The surgery center is supported by a Georgia Certificate of Need. The high value tenancy is reflected in an average remaining lease term of nearly 13 years.
The property is located at 15 Medical Dr., adjacent to the 119-bed Cartersville Medical Center, which is the only hospital within a 26-mile radius. The property is located just off Interstate 75 approximately 40 minutes northwest of Atlanta, which has become a hub for technology and healthcare with more than 14,000 tech businesses and 189,000 innovation sector jobs.
JLL’s Capital Markets team representing the seller was led by Senior Managing Directors Mindy Berman, Ryan Clutter and Richard Reid.
“Medical office buildings continue to be a sought-after property type by both investors, and debt and equity sources,” said Berman. “The Georgia Bone & Joint property features critical high value features such as the surgery center and MRI and is in a fantastic location in a busy medical area with a committed long-term tenancy, and as such, it attracted a generous amount of interest within the investment community.”
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 sales 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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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About SG Property Services
SG Property Services is a vertically integrated real estate firm based in Atlanta, GA. Paul Shailendra (President) founded SGPS a decade ago to focus on medical office investments in Metro Atlanta and North Georgia. The company’s portfolio has since grown to over 20 assets in Georgia, North Carolina, and Texas. SGPS invests with both institutional private equity as well as foreign capital on its medical office investments. The Cartersville acquisition was run by John Fredericks (Director of Acquisitions).