HealthSouth, TCC Strike $60M Deal for HQ Campus

BIRMINGHAM, AL-HealthSouth Corp. has signed a deal to sell its 200,000-sf headquarters building and surrounding campus to an investment fund sponsored by Trammell Crow Co. for “at least $60 million.” The agreement covers the 85-acre campus, which HealthSouth will continue to lease for at least one year, and a contiguous 19-acre tract housing an incomplete 13-story building, formerly called the Digital Hospital.

HealthSouth has enlisted Carruthers Real Estate Co. of Birmingham to evaluate alternatives, either remaining in less space in the existing building or finding new space elsewhere in the area. The company did not say how much space it will be seeking, only that it will be looking in the Birmingham area if it moves.

A HealthSouth spokeswoman tells GlobeSt.com that the sale of the property is part of the company’s continued realignment and repositioning. The downsizing of the healthcare giant suggests that it needs considerably less space than the 200,000 sf at its headquarters.