JLL completes $16.6M sale of medical office campus in Charlotte MSA

CHARLOTTE, N.C., January 16, 2020 – JLL Capital Markets announced today that it has closed the $16.6 million sale of The Piedmont Healthcare Medical Office Campus, a five-building, 91,844-square-foot medical office campus in Statesville, North Carolina.

JLL represented the seller, SMG Leasing Associates, LLC, a real estate group comprising present and former Piedmont Healthcare physicians, and procured the buyer, a healthcare REIT.    

The Piedmont Healthcare Medical Office Campus is currently 93.6% leased and home to Piedmont HealthCare, one of the largest physician-owned and directed multi-specialty medical groups in North Carolina and the Southeast. The group has locations across the market and retains top market share in the region. The five-building medical office campus serves as Piedmont’s largest, all-in-one location, supporting numerous specialties, including pediatrics, dermatology, internal medicine, endocrinology, urology, pulmonology and more. The campus also includes a family-owned and operated retail pharmacy on site as well as parking for more than 500 vehicles. Located at 208 Old Mocksville Road and 129-152 Sherlock Drive, the 14.8-acre campus is adjacent to the Davis Regional Medical Center, a Community Health Systems affiliated hospital, and Interstate 40, providing connectivity to Charlotte and Winston-Salem, both of which are approximately a 40- to 45-minute drive from the property. 

The JLL Capital Markets team representing the seller was led by Director Zack Drozda and Managing Directors Mindy Berman and Daniel Turley. Ryan Gioffre and Bobby Finch from Triad Commercial also assisted the seller in the transaction.

“Piedmont Healthcare is the dominant physician-owned practice in Iredell County,” Drozda said. “The offering represented Piedmont’s flagship, multi-specialty location. As such, there was excellent interest across the spectrum, including private, institutional and REIT investors.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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