Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Locally based Carter has completed phase I of its 7.5-acre Piedmont West project at 43% leased. The 264,000-square-foot medical office building was developed in conjunction with Piedmont Healthcare Inc., which occupies 91,000 square feet in the structure. The total cost of the building is about $90 million, Scott Taylor, president of Carter, tells GlobeSt.com. A second, 193,000-square-foot building with an estimated value in excess of $50 million, will be constructed based on market demand, he says.

The first completed building, located at 1800 Howell Mill Road off of Interstate 75, includes 9,000 square feet of retail space. Amenities include restricted physician-only parking, 24-hour security, a patient- and visitor-friendly lobby with instant-access computer terminals, Personal Information Displays, televisions and a café. Average net rental rates are in the $22 range with a tenant improvement allowance between $35 and $37 per square foot, says Taylor.

“The impetus for this building was a strategic initiative from Piedmont Healthcare to decompress their main hospital campus, which is two miles away,” reports Taylor. “As an attractive alternative for physicians and patients, we think the demand for the space over the long term will continue to be strong. Piedmont’s campus is 100% leased and most of the attached hospital medical office enjoy very high occupancy.”

Piedmont has created a center for outpatient services at the building including advanced diagnostic imaging, the Piedmont Cancer Center and multi-specialty outpatient surgery center. Other tenants in the building include a urology practice, which has leased 11,216 square feet, Atlanta Gastroenterology Associates, which occupies 6,164 square feet and the Atlanta Center for Reproductive Medicine, which leases 5,054 square feet. Most of those leases range from 10 to 15 year terms, says Taylor.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.