Kirbo, Scott Buy 100,000-SF Medical Building for $13M

ATLANTA-Marietta Medical Center is locally based-Kirbo Property Services' first office acquisition. The company, in partnership with locally based-Scott & Associates, paid $13.1 million to LaSalle Bank for the 100,000-sf, 95%-leased center across from WellStar Kennestone Hospital.

By Marita Thomas | June 17, 2002 at 01:01 AM

The center is 95% leased. The purchase is the first office acquisition for Kirbo, which was founded by Thomas Kirbo, a former director of medical leasing for locally based-Cousins Properties Inc. With this purchase, Scott owns or has an ownership stake in four area medical office buildings.

According to published reports, Scott will manage the property and Kirbo will market and lease it. Rental rates for office properties in Marietta are approximately $23 per foot, local brokers tell GlobeSt.com.

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