LAWRENCEVILLE, GA-Santa Ana, CA-based NNN Healthcare/Office REIT has acquired the 60,000-sf Gwinnett Professional Center. The center is a three-story, multi-tenanted medical office building on five acres on the campus of Gwinnett Medical Center.

The property was acquired from unaffiliated third parties, which were represented by Michael Kuras and Matthew Levin of Sperry Van Ness. The acquisition price was not released.

“The main reason we were attracted to this asset is that it is on the campus of an extremely strong medical center in a high-growth market of Atlanta,” NNN Healthcare/Office REIT vice president of acquisitions Danny Prosky tells GlobeSt.com. “We’ve got a significant amount of money set aside for tenant and building improvements.”

The center is currently 73% leased to medical tenants, including Gwinnett Pediatrics, Physiotherapy Associates and North Atlanta Urology Associates. “We may offer lower rents to fill up the vacant space,” he says.

In 2006, the Gwinnett Medical Center received approval for an $88-million expansion that will include the construction of a new five-story tower atop the northern wing of the existing hospital, which will bring the structure to eight stories with 129 acute care beds. “Gwinnett Professional Center is a stable, high-quality asset that has enhanced long-term value due to the planned expansion of Gwinnett Medical Center,” Prosky says.

With the acquisition of Gwinnett Professional Center, NNN Healthcare/Office REIT’s portfolio is valued at $155 million. Other properties in the portfolio include Triumph Hospital Northwest and Triumph Hospital Southwest in Greater Houston, Thunderbird Medical Plaza in Glendale, AZ and Skakerag Medical Center and Yorktown Medical Center in Fayette County, GA.

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