SG Property Services Adds Two Medical Buildings to Portfolio
Monday, September 11th, 2017
SG Property Services, an Atlanta-based real estate firm with a focus on healthcare and professional office development, has acquired Johns Creek Medical and The Swan Building for a combined $11.9 million. The two properties, located at 6918 McGinnis Ferry Road in Johns Creek and 4165 Old Milton Parkway in Alpharetta, total 55,664 square feet.
Johns Creek Medical was 100 percent leased at the time of acquisition by a single tenant. The landmark Swan Building is leased to a mix of well-established medical practices including a plastic surgery center. SGPS plan to fill the remaining vacancies with a focus on medical users and renew existing tenants with long-term leases.
"The Swan Building is a true, value-add investment due to the opportunity to lease-up existing vacancy," said Paul Shailendra, president of SG Property Services.
Paul Shailendra's business partner and brother, Sachin Shailendra, leads SG Contracting, an Atlanta-based general contracting and construction management company.
Both properties were sold by physician owners. Jodi Selvey of Colliers represented the owner of Johns Creek Medical and Lee Asher of CBRE represented the owner of The Swan Building.