WASHINGTON, D.C. –- (RealEstateRama) — 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 plans 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.
About SG Property Services:
SG Property Services (SGPS) is a full service real estate firm based in Atlanta. The company creates value through acquisitions, development, leasing, finance, construction management, asset management and property management. SGPS has successfully sourced quality real estate opportunities in the medical and professional office sector in the broader Metro Atlanta market as well as other select markets in the Southeastern United States. Principals of SGPS have decades of experience in these real estate sectors and have built a strong knowledge, contact and experience base. For more information, visit www.sgpropertyservicesllc.com.