February 2, 2012
Announcing the Sale of Camp Creek Medical Center III
Atlanta, February 2, 2012 – Camp Creek Medical Center III, the third of a four-building outpatient medical campus located in the new Camp Creek community of South Fulton County, has been sold to Arizona Real Estate Investment Trust, Healthcare Trust of America, Inc. The 30,000-square-foot, two-story medical building, developed by Ackerman & Co.’s healthcare division, Ackerman Medical, sold for $8.9 million.
Camp Creek III was developed in 2010 by Ackerman Medical in a venture with leading physician practices, Camp Creek Medical Center III, LLC. Ackerman Medical also handled the leasing and management for the property. “The fact that Camp Creek III was fully leased within 10 months of opening, in this economy, is a testament to Ackerman Medical’s leasing team and our unique understanding of physician needs,” said John A. Willig, principal of Ackerman Medical.
At closing, the building was 97% leased; leading tenants include Tenet South Fulton, Orthopaedics of Atlanta and Georgia Cancer Specialists. In all, the three buildings at Camp Creek Medical Center feature 60 doctors, 21 specialties, a Women’s Center and a Diagnostic Imaging Center. The final phase, Camp Creek IV, is on track to be developed later this year.
The Ackerman & Co. investment sales team of Andrew Murphy and Spencer Coan represented Camp Creek Medical Center III, LLC in the sale of the building.
— ABOUT ACKERMAN —
Atlanta-based Ackerman & Co. is a privately held, leading full-service commercial real estate company offering quality investment, brokerage, management and development services. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. Through its keen business vision, efficient management, aggressive sales and leasing, and exemplary tenant representation, Ackerman & Co. has become one of the top commercial real estate companies in the Southern United States.
To date, Ackerman & Co. has developed and acquired more than 30 million square feet of office, medical, retail and mixed-use space, has nearly 4 million square feet under management, and maintains an investment portfolio valued at $750 million.
For more information on Ackerman & Co., visit www.ackermanco.net