CHARLOTTE, N.C. — Flagship Healthcare Properties (Flagship), a Charlotte-based outpatient healthcare real estate firm, has acquired a Class A, 100% leased medical office building (MOB) and ambulatory surgery center (ASC) in Jackson, Tennessee.
The 14,445-square-foot building is located at 9 Physicians Drive and is anchored by TransSouth Healthcare, PC in partnership with One GI, a leading physician-centric gastroenterology management services organization (MSO) that partners with gastroenterologists to help them manage, optimize, and grow their independent gastroenterology practices. The property is immediately adjacent to 150-bed West Tennessee Healthcare North Hospital and within 5 miles of the 642-bed, Jackson-Madison County General Hospital.
With a growing population of 300,000, Jackson is located between Memphis and Nashville on Interstate 40 and boasts strong healthcare, manufacturing, and technology sectors. Several colleges and universities provide a talented workforce to the region.
“The property’s proximity to the area’s major hospital systems and the distinguished tenant were huge factors in our decision to pursue this property,” said Flagship’s Executive Vice President of Acquisitions Gerald Quattlebaum. “We are committed to providing the highest-quality services to our tenant so they can continue to provide the highest-quality care to their patients.”
“We are excited about acquiring this high-quality, gastroenterology clinic and surgery center in a growing market anchored by a trusted provider with long term plans for growth to meet the needs of this community,” said Flagship’s Executive Vice President of Ambulatory Surgery Centers Blake Bratcher. “Ambulatory surgery centers are at the forefront of transformation in health care delivery, and we are continuing to capitalize on new opportunities in alignment with physicians to help them maximize their real estate so they can carry out their mission more effectively.”
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. Financing was provided by Pinnacle Bank, led by Andrew Thorndyke.