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ATLANTA-Banking on the high-profile household demographics of Atlanta’s Buckhead district, eight miles from Downtown, locally based HealthAmerica Realty Group and a group of investors have purchased the 28-year-old, 147,000-sf Northwest Medical Center for $10.6 million, or $72.11 per sf.

HealthAmerica plans a $4 million renovation to the 58%-leased building which Larry Willey, the company’s chief operating officer, calls a future “crown jewel among Atlanta’s medical (office) facilities.”

In a prepared statement, Willey says the property is in “a prestigious neighborhood where the average household income within a one-mile radius is $430,000 per year.” Average asking rents at Northwest Medical Center are $21 per sf.

Healthcare Realty Trust Inc. of Nashville, TN sold the property which will be managed and leased by HealthAmerica. HealthAmerica manages, leases or owns medical office projects totaling 1.5 million sf in Georgia, Texas, Oklahoma, Alabama, Florida, Tennessee, Virginia and North Carolina.

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