CHARLOTTE, N.C. — Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, is pleased to announce the acquisition of a Class A, 100% leased medical office building (MOB) in Mobile, Alabama.
Located at 2505 Old Shell Road, the recently constructed, single tenant property is fully leased to USA Health, an innovative and award-winning academic health system located along the upper Golf Coast. This outpatient facility is a part of the area’s expanding medical district with three major hospitals nearby: the 681-bed Mobile Infirmary, the 201-bed USA Health University Hospital and the 219-bed USA Health Children’s and Women’s Hospital.
As one of Alabama’s fastest growing cities, Mobile has a diverse economy and is home to several colleges and universities such as the University of South Alabama, Faulkner University, Spring Hill College and the University of Mobile. The city is a regional medical hub with the healthcare sector accounting for 15% of the workforce. Because of its thriving economy and healthcare offerings, Mobile was recognized as one of the Best Places to Live in Alabama (2022-2023) by USA News & World Report.
“Mobile and this property specifically, were attractive to us due to the strong economic indicators and esteemed medical professionals with USA Health that serve this community,” said Flagship’s Executive Vice President of Acquisitions Gerald Quattlebaum. “The acquisition was the perfect opportunity to establish our presence in Mobile, and we look forward to pursuing additional opportunities here and throughout the region.”
Flagship acquired the MOB through its private real estate investment trust, Flagship Healthcare Trust (Flagship REIT). As the new owner of the buildings, Flagship will provide property management and asset management services.