Charlotte, NC-based Flagship Healthcare Properties, an outpatient healthcare real estate firm, has purchased the fully leased, Class A medical office building located at 1727 Kirby Parkway in Memphis, TN for.

Flagship Healthcare Properties acquired the MOB through its private real estate investment trust, Flagship Healthcare Trust, and will provide property management and asset management services. Paul Zeman with Bull Realty represented the seller.

The 26,913-square-foot property was originally built in 1984 and fully renovated in 2017. The MOB is 100% leased to Adams Patterson Gynecology & Obstetrics and The Prevention Group. The property is a part of the region’s medical corridor and is proximate to the 700-bed Baptist Memorial Hospital and 479-bed Saint Francis Hospital.

“It’s location adjacent to the highly desirable area of Germantown was a huge factor in our decision to pursue this property,” said Flagship Healthcare Properties’ EVP of acquisitions Gerald Quattlebaum.