Duke Realty Corporation’s BremnerDuke Healthcare Division Acquires Center Pointe Offices on Atlanta’s “Pill Hill”
Released: 7/17/2007
Company will Redevelop Half of 363,000 Square Foot Complex into Prime Medical Office Space
Duke Realty Corporation (Duke) announces the new healthcare business unit, BremnerDuke Healthcare Real Estate (BremnerDuke), is entering the Atlanta healthcare market with the acquisition of Center Pointe I and II. Those office buildings (one seven-story, the other 11-story), along with 4 acres of surrounding property in Atlanta’s Central Perimeter submarket, were purchased from Perimeter 400, LLC.
This is BremnerDuke’s first development in the greater Atlanta area, with plans for continued, long-term growth in the region. BremnerDuke has more than 20 years of experience in the planning, development, ownership and management of healthcare facilities, ranging from small medical office buildings to larger medical facilities offering various health services in addition to physician office space.
Located just off of I-285, Center Pointe, built in the mid-1980s, is a 363,778 square foot, two building office complex near Peachtree Dunwoody and Johnson Ferry Roads. The area is commonly known as “Pill Hill,” an epicenter for hospitals and medical office buildings. It is a prime location for the growing demand for clinical, procedural and administrative office space from physician groups, hospitals and other related medical practices in the area.
“Center Pointe is strategically located close to Saint Joseph Hospital and within ¼ mile of Northside Hospital and Children’s Healthcare at Scottish Rite, positioning Center Pointe for redevelopment into a medical office campus,” said Deeni Taylor, Executive Vice President of BremnerDuke Healthcare. “Future plans over the next 3-4 years are to transition half of Center Pointe I and II into medical office space for some of the premier medical specialties in Atlanta including, oncology, orthopedics, obstetrics and gynecology, surgery and ophthalmology.”
Nearby Saint Joseph’s Hospital, recently named one of the top 50 hospitals in the United States, finds the location to be ideally situated for its growing campus.
“We are excited to have more high quality medical office space created adjacent to our campus, and the additional opportunities the new ownership of this complex provides to us,” says Kirk Wilson, president and CEO of Saint Joseph’s Health System.
As the new owners, BremnerDuke will oversee property management and renovations during development into a medical office facility as existing non-healthcare tenants’ leases expire.
BremnerDuke offers one of the most experienced healthcare real estate teams in the country. It supports hospitals and physician groups with planning, development and compliance-driven facility management services. Duke estimates that healthcare expenditures in the United States are expected to exceed $33 billion by 2010, a 50 percent increase over 2002. Almost 35 percent of these expenditures will be for outpatient facilities such as medical office buildings, surgery centers, and clinics. BremnerDuke Healthcare, formerly known as Bremner Healthcare, was acquired by Duke in February 2007 as a result of Bremner’s proven success and creativity in developing healthcare real estate.
BremnerDuke Healthcare, a division of Duke Realty Corporation, has been building healthcare for more than 20 years with facilities ranging from a small medical office building to a large medical office building with diagnostics; an oncology center or surgery center; or a complete in-patient hospital. The list of satisfied clients extends nationally and includes Ascension Health, Adventist Health System, Catholic Healthcare Partners, Vanderbilt Medical Center, Baylor Health Care System, The Ohio State University Medical Center and Duke University Medical Center.
Duke Realty Corporation, founded in 1972, specializes in the ownership, construction, development, leasing and management of office, industrial, medical office and retail real estate. It is the largest publicly traded, vertically integrated office/industrial real estate company in the United States. The company owns, manages or has under development more than 113 million rentable square feet in 20 major U.S. cities. Duke, which controls 7,700 acres of land for 112 million square feet of future development, also provides nationwide real estate solutions through its national development division. More information about Duke is available on the Internet: www.dukerealty.com
Contact: Kathy Kieffer | Email