A joint venture between Anchor Health Properties and Sun Life’s BentallGreenOak has wrapped up its play at Newnan Professional Center, closing on the final medical office building on the campus. The two-story outpatient facility at 2201 Newnan Crossing Boulevard spans 40,431 square feet, sits directly across from Piedmont Newnan Hospital, and is anchored by OrthoAtlanta alongside a mix of specialty providers. The deal brings the entire campus under coordinated ownership and puts the joint venture in charge of leasing and day-to-day operations.
Deal details
According to a press release from BGO, the off-market purchase is the fourth investment for the joint venture and adds a Class A, 40,431-square-foot outpatient building that first welcomed patients in 2020. The release notes that the property is nearly fully occupied and highlights OrthoAtlanta as the anchor tenant. BGO and Anchor report that Anchor Health Properties will handle asset and property management services for the joint venture going forward.
Price and the seller
As reported by CoStar, Southtree Commercial Real Estate sold the building for roughly $14.2 million. CoStar’s coverage also notes that Michael Lipton of Colliers represented the seller in the transaction.
Buyers’ playbook
Anchor has been steadily building an on-campus healthcare footprint in Newnan for several years. The company’s earlier reporting states it already owned the first two Newnan Professional Center buildings and held rights to acquire the adjacent assets. In its own commentary, Anchor Health Properties says consolidating the campus helps tighten referral connectivity for providers and supports more stable occupancy for investors, a key part of the strategy behind the buy.
Why Newnan
Coweta County ranks among the faster-growing counties in the Atlanta metro area, and U.S. Census QuickFacts shows its population has climbed more than eight percent since 2020. That kind of growth helps explain why institutional buyers are targeting outpatient facilities near hospitals. BGO has described Newnan Professional Center as playing a mission-critical role in serving a rapidly expanding community next to the 217-bed Piedmont Newnan Hospital. With a single ownership group in place, capital planning for tenant improvements and potential service expansions across the campus could be more streamlined.
What to watch
Market watchers will want to track leasing activity and any announced upgrades. The property listing maintained by Southtree points to a solid mix of specialties and parking that supports ambulatory care operations. As the joint venture assumes management, local providers and patients are likely to see more coordinated space planning across the campus, while investors will be watching occupancy levels and lease-term rollovers for signs of income stability.
