FLAGSHIP HEALTHCARE PROPERTIES ACQUIRES EAST RIDGE PHYSICIANS BUILDING IN CHATTANOOGA, TENNESSEE
CHATTANOOGA, Tenn. — Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, is pleased to announce the acquisition of a Class A, 100% leased medical outpatient building (MOB) in Chattanooga, Tennessee.
The 27,657-square-foot property, located at 929 Spring Creek Road near the I-24 and I-75 interchange, sits adjacent to the 128-bed HCA Parkridge East Hospital. Built in 1985, the building underwent an extensive interior and exterior renovation in 2024, accompanied by a rebranding to the East Ridge Physicians Building. The redesigned interior spaces were thoughtfully customized to meet the needs of established providers.
The Greater Chattanooga region, encompassing a 16-county area across three states, is a thriving hub for manufacturing, technology, and entrepreneurship. Known as the “manufacturing magnet of the South,” the region boasts world-class logistics infrastructure, the fastest internet speeds globally, a skilled workforce, and low-cost, reliable utilities.
Parkridge East Hospital has been a cornerstone of the Chattanooga community since its establishment in 1974. As part of the Parkridge Health System, the hospital offers a comprehensive range of medical and surgical services, including orthopedics and robotic surgery. Its 24/7 Emergency Department is recognized as an Accredited Chest Pain Center by the Society of Chest Pain Centers.
“As Chattanooga continues to dedicate growth in its healthcare sector, we’re elated to expand our presence in the market with this fully-renovated and rebranded asset,” said Flagship’s executive vice president, Gerald Quattlebaum. “The previous ownership group, which included the existing physician tenants, did a fantastic job in repositioning this fine asset.”
The property was acquired through Flagship’s private real estate investment trust, Flagship Healthcare Trust (Flagship REIT). Flagship will also provide property management and asset management services for the MOB.
