Cushman & Wakefield’s Healthcare Practice Group has secured a 58,558-square-foot lease renewal and 18,339-square-foot lease expansion with Resurgens Orthopaedics, along with a 17,068 square foot lease to an affiliated surgery center entity, at Doctors Center I-III in Atlanta. Cushman & Wakefield Senior Director George Olmstead represented the landlord, Lillibridge Healthcare Services, a wholly-owned subsidiary of Ventas, Inc. (NYSE: VTR), in the transaction; Michael Lipton and Andrew Walker of Colliers International represented Resurgens Orthopaedics.
“Lillibridge Healthcare Services is extremely pleased that Resurgens Orthopaedics chose to remain in Doctors Center,” Olmstead said. “This property has a fantastic future as Lillibridge has committed to a multi-million dollar capital improvement investment in conjunction with these transactions to renovate the campus, including common area updates, signage improvements, modernized elevators and new entrances. As one of the property’s anchor tenants, Resurgens Orthopaedics will benefit greatly from this investment.”
Renovations to the 350,000-square-foot project will begin in the second half of 2017, and are slated for completion by early 2019. The property is supremely located on the Emory Saint Joseph’s Hospital campus in the heart of Atlanta’s Central Perimeter submarket, with easy access to Interstate 285 and Georgia 400, and it features direct access to MARTA, an on-site pharmacy, established tenant mix and 24/7 security.