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Atlanta & Southeast  + Atlanta Metro  + Healthcare  |  February 7, 2022
Front exterior view of a two-story concrete medical office building with top-to-bottom windows in the center and cover for patient drop-off and pick-up
Lisa McDuffie
By: Lisa McDuffie

CBRE Brokers $28M Sale of Fully Leased MOB in Kennesaw

CBRE has completed the $28.1-million sale of a newly constructed, fully leased medical office building in Kennesaw, GA. The asset on 187 Chastain Road is occupied by Piedmont Healthcare, Inc.

Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany and Zack Holderman with CBRE represented seller PLSQ Chastain, an entity comprised of investors from Quintus and Pope & Land Real Estate.

Pope & Land developed the 39,642-square-foot building for the ownership entity and arranged a long-term lease with Piedmont Healthcare, which was represented by CBRE. Financing was provided by Renasant Bank.

According to CBRE, the property sold upon completion for a record-low cap rate for a fully stabilized medical office building in the Southeast. “As shown by this transaction, investor interest in well-leased properties to dominant healthcare systems remains insatiable and is not just limited to healthcare REITs or traditional core real estate funds,” said Lee Asher, vice chairman at CBRE.

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CBRE's Asher

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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