ATLANTA, June 19, 2017 (GLOBE NEWSWIRE) -- Shailendra Group Property Services (SGPS) today announced the purchase of Douglasville Medical Center and Prestley Mill Medical Center for a combined $7.5 million. The 41,772-square-foot acquisition includes 8820 Hospital Drive and 4586 Timber Ridge Drive properties.
SGPS plans to fill the properties’ remaining vacancies by attracting medical users that will be drawn to and desire a location in surgical and diagnostic specialty centers.
Douglasville Medical Center is located on the campus of WellStar Douglas Hospital, a 108-bed hospital recognized as one of the top-ranked Community Value hospitals in the nation.
Conveniently located just off Interstate 20 in Douglasville and half a mile from WellStar Douglas Hospital, Prestley Mill Medical Center entered the market at 90.2 percent leased with 56 percent of its space leased to Northside Hospital and Emory Healthcare.
“These properties are attractive because of their strategic location and accessibility that is sought after by healthcare providers,” said Paul Shailendra, president of SG Property Services. “Prestley Mill Medical Center presents an opportunity to add further value through the lease-up of existing vacancies.”
Paul Shailendra’s business partner and brother, Sachin Shailendra, leads SG Contracting, an Atlanta-based general contracting and construction management company.
Jodi Selvey of Colliers represented the Douglasville Medical Center seller, SA Dville. Lee Asher of CBRE represented the Prestley Mill Medical Center seller, Timber Ridge Partners.