A single-tenant medical office building in South Carolina is now owned by a Birmingham-based firm.
Anderson Radiology/MedQuest (Novant Health Subsidiaries) in Anderson, South Carolina was acquired by Birmingham-based Primehealth Properties Trust, LLC.
Primehealth acquired the Anderson Radiology/MedQuest medical office building, located at 2110 N Hwy 81, marking a push into South Carolina. Currently, the company has properties in four states.
“This acquisition signifies Primehealth’s entrance into the South Carolina market, as we like the regional growing demographics and the Noviant/Medquest business model.” according to J. Claude Tindle, President. The building is less than a quarter mile from AnMed’s new 461 bed acute care hospital on Healthy Way and Fant Street. The proximity to AnMed (Anderson Health Medical Center) makes the acquisition a logical acquisition for future healthcare providers as well as strategically for Anderson Radiology.
“As a Birmingham-based startup, expanding into the South Carolina market beyond our local boundaries, we’re demonstrating our ambition to broaden our reach and tap into new markets.” said J. Claude Tindle, President for Primehealth. “This is Primehealth’s first acquisition in South Carolina, further highlighting our expansion strategy and our desire to expand our reach and establish a presence in new markets. It’s always exciting to see startups from one region branching out and thriving in new locations, contributing to economic growth, and creating opportunities for both the company and the communities they enter.”
The healthcare real estate acquisition and development firm acquired the property from a North Carolina partnership. It is located in the Upstate region and is situated in the Greenville-Anderson-Mauldin MSA, one of the fastest growing regions in South Carolina and home to nearly 1 million people. Since 2020, this area has increased its median household income to $57,432. The area is home to Clemson University, “which we enjoy being situated in college towns much like our Lubbock property just minutes from Texas Tech University, and our Vascular Center is next to the teaching college at Mercer in Macon, Georgia”, according to Tindle.
The 12,400-square-foot single-tenant medical office building sits on 1.61 acres. The property resides in an extremely attractive MOB submarket with 100% medical office occupancy within a 2-mile radius of the property. It is close to the hospital and just at the other end of the lake from the University according to Claude Tindle.
The facility is a highly specialized imaging/radiology center, fully leased to a desirable health system tenant, Anderson Radiology/MedQuest, wholly owned subsidiaries of the AA-Credit Rated Novant Health. The tenant has occupied the building since it was constructed in 2003. The tenant is currently in the process of renovating the building and installing brand new state-of-the-art imaging equipment. The improvements to the building and equipment upgrades demonstrate the long-term commitment to the property.
“We are excited about this acquisition, and we plan to continue to increase our exposure to quality Southeast markets,” said J. Claude Tindle, President for Primehealth. “We are pleased to join this particular submarket of Greenville, SC, as the building’s tenant has proven to be vital to the community it serves.” Champ Stewart of Longleaf Realty Partners represented Primehealth Properties Trust and Marcus Millichap represented the Seller in the transaction. Locally, Derek Johnson with Southpoint Bank and Centerstate Bank consummated the financing.
Over the past four and a half years, Primehealth Properties Trust has grown its portfolio by strategically acquiring and developing properties in the Southeast and Southwest United States.
