{"id":1004638311,"date":"2023-01-06T07:20:53","date_gmt":"2023-01-06T15:20:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004638311"},"modified":"2023-01-06T07:20:56","modified_gmt":"2023-01-06T15:20:56","slug":"stonemont-buys-metro-atlanta-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-metro-atlanta-mob\/","title":{"rendered":"Stonemont Buys Metro Atlanta MOB"},"content":{"rendered":"
\"\"<\/a>

Preston Ridge Medical Office Building<\/p><\/div>\n

Stonemont Financial Group<\/strong> has acquired Preston Ridge Medical Office Building, an 86,000-square-foot property in Alpharetta, Ga. According to CommercialEdge data, Atlanta Oncology Associates<\/strong> sold the Class A asset for $22.6 million.<\/p>\n

The same data provider shows Preston Ridge was completed in 2008 on a 6.8-acre site. The four-story facility features 28,666-square-foot floorplates, two passenger elevators and controlled access. Stonemont plans to implement a capital improvement plan at the property in early 2023, Senior Vice President Matt Stone said in prepared remarks.<\/p>\n

The property houses three single-specialty surgery centers and medical services offered include plastic surgery, dermatology, ENT and gastroenterology. Northside Hospital is the facility’s anchor tenant, providing cancer care services; Atlanta Skin Cancer Specialists, Emory Healthcare and Y Plastic & Reconstructive Surgery, among others, are also on the roster.<\/p>\n

The medical office building is 3330 Preston Ridge Road, next to Old Milton Parkway, approximately 27 miles from downtown Atlanta. Other health-care facilities in the area include Northside\/Alpharetta Medical Campus and ClearChoice Dental Implant Center. Emory Johns Creek Hospital is 7.5 miles away.<\/p>\n

The medical office sector is still thriving<\/h2>\n

According to a recent Colliers<\/strong> report on health-care services, the medical office sector no longer represents a niche asset class. Medical office investments added up to $17.2 billion over the four quarters to Q2 2022, a significant increase from the $14.7 billion in the prior 12 months.<\/p>\n

The most active market for medical office investments was Los Angeles, followed by New York, Phoenix and Dallas; Atlanta occupied the fifth position in that ranking, with transactions totaling $650 million. In one of the purchases, Lincoln Advisors acquired Northwest Medical Center<\/a>, a 149,202-square-foot medical office building located 8.4 miles from downtown Atlanta.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 86,000-square-foot property traded for $22.5 million.<\/p>\n","protected":false},"author":2829,"featured_media":1004638314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21783,21754,21742],"tags":[35498,37349],"class_list":["post-1004638311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-investment","category-medical-office","category-latest","tag-colliers","tag-stonemont-financial-group"],"acf":[],"yoast_head":"\nStonemont Buys Metro Atlanta MOB - CPE<\/title>\n<meta name=\"description\" content=\"Stonemont Financial Group acquired Preston Ridge Medical Office Building, an 86,000-square-foot property in Alpharetta, Ga., near Atlanta.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-metro-atlanta-mob\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stonemont Buys Metro Atlanta MOB\" \/>\n<meta property=\"og:description\" content=\"Stonemont Financial Group acquired Preston Ridge Medical Office Building, an 86,000-square-foot property in Alpharetta, Ga., near Atlanta.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-metro-atlanta-mob\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-06T15:20:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-06T15:20:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Preston-Ridge-e1673012798202.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-metro-atlanta-mob\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-metro-atlanta-mob\/\",\"name\":\"Stonemont Buys Metro Atlanta MOB - 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