Leasing stabilization leads to sale of Decatur Medical Office Building

Case Studies
Leasing stabilization leads to sale of Decatur Medical Office Building

Michael Ulin

Senior Vice President

client

Dr. Hamid Sadri
Industry

Healthcare Practice
Services

Investment Sale Advisory, Brokerage – Investment Sales
Geography

Decatur, GA
Asset Type

Medical Office
Square footage

25,000 SF
relationship length

10+ years

Michael was Initially hired to help lease vacant space in a newly developed medical building. The Building was constructed for owner’s practice and to lease up to other tenants. However, it remained 40% vacant while facing a challenging market.

Ultimately, the expertise extended to monetizing the fully leased building at 2545 Lawrenceville Hwy, Decatur in a sale to an investor group.

results

Facilitated the lease up of 10,000 SF of leases to Northside Hospital for Cancer Care and PET Imaging services.
Collaborative effort with Ownership helped improve operating performance.
Assisted in acquisition of additional adjacent land.
Delivered a profitable exit at sale of the asset by bringing a buyer directly above REIT pricing.

Over the years Michael has always been responsive and ready to figure out the best and most efficient way to get things done. I gave him the number I wanted to sell for and he delivered the buyer. He’s a gentleman and we have contemplated other projects together – I wouldn’t want to work with anyone else.