The Boulder Group has completed the sale of a single tenant Erlanger Health medical office building located at 60 Erlanger South Drive in Ringgold, GA for $2,050,000. Zach Wright and Brandon Wright represented the seller and purchaser in the transaction. The seller was a Midwest-based healthcare real estate investment company, and the purchaser was an all-cash 1031 exchange investor based in Georgia. The property quickly sold within 57 days of the listing agreement being signed.
The 7,955 square foot building is leased to Erlanger Health System, a top-rated independent non-profit hospital system founded in 1889 that has an investment grade credit rating (Moody’s: Baa2). The property serves as a primary care physicians office and the tenant recently executed a new 10-year lease extension evidencing their commitment to the property. The lease features annual rental increases and minimal landlord responsibilities.
The surrounding area includes numerous medical properties, many of which have been recently constructed, creating strong synergies. The property is located along Battlefield Parkway (State Route 2), the primary thoroughfare in the area (20,000 VPD), with good visibility and is about two miles west of Interstate 75.
“Well-located MOB properties with long-term leases, investment grade tenants, and annual rental increases are highly sought after amongst net lease investors,” stated Zach Wright, Vice President.
“Our marketing process quickly generated several offers, and we were able to come to terms with a local all-cash 1031 exchange investor. Lower price point medical deals, such as this, are difficult to find,” added Brandon Wright, Associate.
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2023, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
For additional information, please visit www.BoulderGroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Zach Wright
Email: Send Email
Phone: 720-604-2220
Address:1805 S Bellaire Street, Suite 355
City: Denver
State: Colorado
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
