Stable Development Co. purchases 25,643 SF portfolio from Academy Orthopedics
ATLANTA, GA, April 12, 2019 /24-7PressRelease/ — Ackerman Medical, a division of Ackerman & Co., represented Academy Orthopedics in the sale of its three-building, 25,643-square-foot medical-office portfolio located in Buford and Cumming, Ga., in north metro Atlanta. Nevada-based Stable Development Company purchased the properties for $5.26 million.
Ackerman Medical’s Kris Redding and Andrew Murphy of Highgate Partners represented ownership in the transaction and Beau Terrell of Highgate Partners represented the buyer.
Currently 90% occupied, the portfolio is approximately 50% leased to Academy Orthopedics, with Northside Hospital Imaging, Select Physical Therapy and Benchmark Therapy rounding out the tenant roster.
“This portfolio offers the buyer a strong tenant mix with exceptional credit and steady cash flows thanks to the nearly five-year average remaining lease terms,” said Kris Redding. “The tremendous residential growth taking place in these two micro markets will also help drive future demand for the medical services provided at these three medical facilities.”
The portfolio is comprised of 318 Tribble Gap Road in Cumming, Ga., a 14,643-square-foot, two-story building built in 1995; and 3919 & 3929 Carter Road in Buford, Ga., two single-story buildings built in 2006.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com
Since 2000, Ackerman Medical has developed and owned nearly 2 million square feet of medical office space across metro Atlanta. As a leading owner and developer of medical office buildings, Ackerman Medical manages its properties to the highest institutional standards.
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