BRACKETT FLAGSHIP PROPERTIES BREAKS GROUND ON LAUREL PARK MEDICAL PAVILION IN LENOIR, NORTH CAROLINA

LENOIR, NC  – Laurel Park Medical Pavilion is a two-story, 100% leased, 15,000 square foot medical office building located in Lenoir, North Carolina. The property is located less than � mile from, and will be leased by Caldwell Memorial Hospital to house two of its outpatient practices; Laurel Park Women’s Health and Mulberry Pediatrics.

Caldwell Memorial Hospital is joint venturing with Brackett Flagship Properties, with investment by the Flagship Healthcare Real Estate Fund. Brackett Flagship Properties is the development manager and will also serve as property manager upon its completion.

Laurel Park Medical Pavilion is located at 906 College Avenue in the downtown district of Lenoir with convenient access to Caldwell Memorial Hospital, surrounding businesses, retail, and residences. Caldwell Memorial is a 110-bed, private, not-for-profit community hospital with a provider network of more than 50 primary and specialty care physicians. On May 1, 2013, Caldwell Memorial was acquired by the UNC Health Care System.

Ground breaking took place on April 22, and attendees included neighbors, physicians and staff who will be the building’s new occupants, members of the City and County Government, hospital executives and members of the development team. The project is expected to be completed in late 2013. According to Charles Campbell, managing partner of Brackett Flagship Properties, “The Laurel Park Medical Pavilion fits perfectly with our firm’s goal to partner with high quality hospitals and tenants to meet the health care needs of communities in our Southeastern footprint. We couldn’t be more pleased with this partnership.”