Cleveland OH – November 2, 2016 – Brown Gibbons Lang & Company (BGL) is pleased to announce the real estate sale of Gastrointestinal Associates, P.C. totaling approximately 23,000 rentable square feet (the “Property”). BGL’s Healthcare Real Estate team served as the exclusive advisor to the seller in the transaction.
The Property is a premier medical office building with ASC in Powell, TN. Opened in 1986, the state-of-the-art surgery center was the first accredited ASC in the country and is strategically located just off TN State Route 131 and I-75. The Property is highly visible and is located adjacent to North Knoxville Medical Center, a new full-service hospital. The Building is located in a strong medical corridor with a number of surrounding clinical facilities including North Knoxville Medical Center, and this concentration of medical services in the Knoxville suburb warrants long term stability and rental rates for the Property.