Piedmont Healthcare MedicalOffice Campus

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STATESVILLE, NC—JLL Capital Markets has closed the $16.6 millionsale of The Piedmont Healthcare Medical Office Campus, afive-building, 91,844-square-foot medical office campus here. JLLrepresented the seller, SMG Leasing Associates, LLC, a real estategroup comprising present and former Piedmont Healthcare physicians,and procured the buyer, a healthcare REIT.

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The Piedmont Healthcare Medical Office Campus is currently 93.6%leased and home to Piedmont HealthCare, one of the largestphysician-owned and directed multi-specialty medical groups inNorth Carolina and the Southeast. The group has locations acrossthe market and retains top market share in the region. Thefive-building medical office campus serves as Piedmont's largest,all-in-one location, supporting numerous specialties, includingpediatrics, dermatology, internal medicine, endocrinology, urology,pulmonology and more.

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JLL tells GlobeSt.com that the five buildings were constructedbetween 1980 and 2016. All have undergone extensive renovations,except for the one constructed in 2016.

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The campus also includes a family-owned and operated retailpharmacy on site as well as parking for more than 500 vehicles.Located at 208 Old Mocksville Rd. and 129-152 Sherlock Dr., the14.8-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 ofwhich are approximately a 40- to 45-minute drive from theproperty.

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"Piedmont Healthcare is the dominant physician-owned practice inIredell County," said JLL Director Zack Drozda. "The offeringrepresented Piedmont's flagship, multi-specialty location. As such,there was excellent interest across the spectrum, includingprivate, institutional and REIT investors."

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