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Atlanta & Southeast  + Southeast  + Healthcare  |  February 27, 2020
David Cohen
By: David Cohen

JV Acquires 32K-SF Medical Office Building in Raleigh

Atlanta-based commercial real estate firm SG Property Services and Raleigh-based real estate firm The Lundy Group have acquired a 32,000-square-foot medical office in Raleigh as part of a joint venture. The sales price was undisclosed.

The two-story property was constructed in 2000 and is located in the UNC Rex Submarket. The joint venture plans to reposition the medical office asset through leasehold improvements and capital enhancements. Avison Young will oversee leasing, while Lundy Management Group will act as property manager.

“The Research Triangle presents great opportunity to expand our services into a new market,” said Paul Shailendra, president at SG Property Services. “We see great value-add potential in this investment, and will begin implementing building updates in early 2020.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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