BEST of MOBATL - 4125 Old Milton Pkwy

4125 Old Milton Parkway

(3933 GA 120)

Alpharetta, Georgia 30022

North Fulton Submarket

Prime location with convenient access to GA 400. Minutes from nearby hospitals including Northside Medical, Emory John's Creek and North Futon Regional. Idel for Ambulatory Surgery Center. Excellent parking ratio for medical office with 6 spaces per 1,000 square feet of leased space (232 spaces total). Monument and Building Signage Opportunity.  Patient Drop Off and Pick Up area.

MOBATL Database Pictures Update

Metro Atlanta – MOBATL database update. We have updated pictures for the Northlake, Decatur, Lawrenceville, Fayetteville, Peachtree City and Newnan areas. While we continue to update MOBATL there are many more pictures of MOBs in various sub markets including Pill Hill, Cumberland and Kennesaw among others. Please feel free to contact us if there is an area you would like to make a priority.

Demand vs. Supply Executive Summary

A Diagnostic View of Healthcare

Government scrutiny of hospital/physician relationships is increasing, as exhibited in the examination of referral patterns, overutilization of diagnostic testing, leasing arrangements and other joint venture structures.

BEST of MOBATL - Hamilton Mill Station

Hamilton Mill Station

2089 Teron Trace
Dacula, Georgia 30019

Northeast Atlanta Submarket

Dacula’s elegant Hamilton Mill Station, as featured in MD News, now has ownership and leasing opportunities for Professional office and Medical uses to compliment the 100,000 square foot project. Hamilton Mill Station is well under way, building its final building within the park, with 50% of the available space already committed and/or occupied. The property just off Hwy 124, across from Duncan Creek Park and located between Gwinnett Medical Center and Northeast Georgia Health System's new Braselton location

Medical Office Buildings of Atlanta Database

Metro Atlanta – MOBATL database is now on-line. We are excited to provide health care professionals with the ability to access a database of medical office buildings (MOB) greater than 10,000 square feet that are available for sale and/or lease. The buildings can be queried based on numerous criteria to include Area, County, Property Name, Address, Square Feet, and Rental Rates. Along with property information we have included pictures and an integrated map with a list of medical practices and tenants at each location. While the database and search function is straight forward some helpful hints for looking up your next MOB include:

MOB Fayette/Coweta Market Report– 3Q 2009

The Fayette/Coweta County medical office building (MOB) sub market with 880,000 square feet is located along the Hwy 54 and Hwy 34 corridor form Fayetteville to Coweta Counties in South Atlanta. The largest concentration of space is located around Piedmont Fayette Hospital. The anticipation of the new 9 story, 136 bed hospital in Newnan has created a new emerging market along the Hwy 34 corridor, in Coweta County from Peachtree City west to Newnan (and the older Piedmont Newnan Hospital). Due to the economic downturn the new hospital’s 2010-2011 start date is in question, which has also caused many independent medical office developers to put some plans on hold.

BEST of MOBATL - Gwinnett Professional Center I

Gwinnett Professional Center I

601-A Professional Drive

Lawrenceville, GA 30045

Northeast Atlanta Submarket

Gwinnett Professional Center is a 60,040 rentable square foot, three story medical office building constructed in 1985 and last renovated in 2007. The northeast Atlanta location is on the hospital campus of Gwinnett Medical Center, the dominant health care provider in the county. In 2006, the hospital campus received certificate of need approval for an $88 million expansion to include growth to 429 beds. The property has an on-site pharmacy, ample free surface parking, first floor space available and 20,000 RSF floor plates. Great access to area neighborhoods and business districts via Hwy 318 and Interstate 85.

MOB Northeast Atlanta Market Report - 3Q 2009

For healthcare providers looking to lease space in medical office buildings (MOB), Northeast Atlanta it is a “buyers” market. Vacancies have remained over 20% for the past two years creating an environment where most landlords are prepared to negotiate great deals. In the mid 2000’s vacancy rates where stable around 11%. During this period, as new medical office buildings were completed, tenants expanding and new practices were opened at a pace that absorbed all the new space. However, in 2007 with the delivery of over 300,000 square feet of new medical office buildings and absorption of only 100,000 square feet, vacancy rates spiked by over 7% points. Negative absorption, (a net loss in total square feet occupied) in 2008 and 2009 has pushed vacancy rates to over 22.5% in 3rd quarter 2009. We anticipate this trend to stabilize in 2010 as favorable lease terms and supporting demographics create greater demand for vacant space.

BEST of MOBATL - Doctor's Center Four

Doctor’s Center Four

5673 Peachtree Dunwoody Road
Atlanta, GA 30342

Central Perimeter Submarket

Immediately adjacent to the Hospital Building. Enhanced access to a full range of specialists, from allergists and cardiologists to obstetricians and surgeons. Features an expanded pedestrian plaza with potential retail space and direct access to the MARTA Medical Center Station and Saint Joseph's campus. Newly added underground staff circulation corridor for physicians and employees. Class A finishes throughout.

MOB Deliveries at Historical Lows

Metro Atlanta - Medical office building deliveries decline to historical lows.  After the building boom of the late 2000’s peaking in 1st quarter 2007 with 553,000 square feet, deliveries are projected to be 100,490 square feet in 4th quarter 2009 and 34,060 square feet in 1st quarter 2010 and 127,000 square feet in 4th quarter 2010.  The seven buildings that are scheduled to be completed include:

MOB Sale Volume Increases in 3Q 2009

Metro Atlanta - Sale of medical office building portfolio doubles total yearly volume in 3Q 2009.   The recent sale of Johns Creek I, II and III totaling 72,331 square feet in 8 buildings for $7.7 million pushed total dollar volume for 3Q 2009 to $11.6 million.  This represents an increase over the 1Q and 2Q 2009 combined total volume of $5.0 million.  The average price per square foot for these MOB sales declined from $172.29 per square foot in 1Q 2009 and $108.57 per square foot in 2Q 2009 to $91.74 per square foot in 3Q 2009.   At the time of sale the Johns Creek portfolio was only 45% occupied which lowered the overall price by approximately $2.0 million below asking price.  Both building replacement cost and CAP rates at 95% occupancy support the asking price.  With current market activity, expect dollar volume to remain strong and sales prices to be in the range of $150.00 to $175.00 per square foot for both smaller investment grade and owner/user MOBs through 4Q 2009.

BEST of MOBATL - Baltimore Row

Baltimore Row

1 Baltimore Pl NW
Atlanta, GA 30308

Downtown Submarket

Sweeping views of downtown Atlanta. Located on a private cobblestone cul de sac with 24-hour security. Beautiful atrium with glass elevator complete with large, well lighted parking structure. Close to Downtown and Midtown business districts. Immediate access to I-75/I-85 and the Civic Center MARTA station. Listed on the National Historic Registry. 19th century Baltimore style row house architecture. New roof and windows. Penthouse office suites are newly renovated.

MOB Central Perimeter Market Report – Mid Year 2009

The Central Perimeter medical office building market is located at GA 400 and I-285 around the areas three primary hospitals: Northside Hospital, St Joseph’s Hospital of Atlanta and Children’s Health Care of Atlanta at Scottish Rite.  The area commonly referred to as Pill Hill has 21 MOBs totaling 2.2 million square feet located both on campus and off campus of the major hospitals.  There is approximately 61 spaces available ranging from less then 1,000 SF to over 20,000 SF for a total of 337,835 vacant square feet.

BEST of MOBATL - Pine Mountain Corners

Pine Mountain Corners

6110 Pine Mountain Road
Kennesaw, GA 30152

Kennesaw/Town Center Submarket

New all brick Medical Office Building at the intersection of North Cobb Parkway, Pine Mountain Road and Pine Mountain Court behind Walgreen’s. Primarily for Medical & Dental, but will consider other professions. General dentistry office on 1/2 of main floor is leased. Elegant Elevator Lobby to 2nd floor. Adjacent new "sister" building may house family medical practice. Upscale building in terrific location with excellent visibility in the heart of Kennesaw and the gateway to affluent west Cobb County neighborhoods.

Medical Office Building Database

To meet the health care professionals demand for quality and timely real estate information a database of all available Medical Office Buildings in Atlanta, GA is being developed and will be on line in the 4th Quarter of 2009.  This web based database will be free to all doctors, physicians and health care professionals looking for alternative medical space. The web site domain name will be posted as soon as we are up and running.

When completed we will post the site’s domain name here. Check back often or feel free to call or email Richard Smith with any questions.

MOB Atlanta Market Report – Mid Year 2009

The Metro Atlanta medical office building market contains over 15.8 million rentable square feet in 426 properties.  Our survey includes medical office properties with over 10,000 rentable square feet.  Deliveries steadily increased to the peak of 1.365 million square feet in 2007.  In 2008,deliveries fell to 833,000 square feet and 196,000 through 2Q2009.  The 198,812 square feet currently under construction in 5 properties is the fewest during the past 10 years.  While there are several MOB project start-ups under consideration, the overall market is expected to remain at approximately 16 million square feet through 2010.

Health Care Property Loans – MOB Financing

Medical practices evaluating the purchase of a medical office building will have many finance options available in the market.  While this is a broad category, finance options/potential structures will vary widely based on such factors as loan amount, owner occupied or investment, strength of owner, cash flow, liquidity, etc. In addition, the type of medical office building dictates options. A commercial condo loan will differ from a single tenant and/or multi-tenant medical office building.