FLAGSHIP HEALTHCARE PROPERTIES ACQUIRES MEDICAL OFFICE BUILDING IN HUNTERSVILLE, N.C.

Healthcare real estate firm expands Metro Charlotte, N.C. presence

Charlotte, N.C. (August 13, 2020) —  Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, continues to expand its Charlotte footprint with the acquisition of Huntersville Medical Plaza, a Class A, two-story, 26,166-square-foot outpatient medical office building (MOB), located at 17220 Northcross Drive in Huntersville, N.C.

Built in 2009, the MOB is conveniently located less than one mile from both I-77 and Birkdale Village in the vibrant Lake Norman area. Novant Health Huntersville Pediatrics and Internal Medicine occupies the entire first floor with over 13,000 square feet, providing a full range of services from newborn to geriatric well care.

“We are excited to expand our Charlotte area presence into the rapidly growing Lake Norman submarket and look forward to continuing our partnership with Novant Health,” said Gerald Quattlebaum, executive vice president of acquisitions.  “We look forward to supporting the Novant practices and working with prospective tenants who see the advantages of this well-located MOB in this dynamic part of the Charlotte market.”

Flagship acquired the MOB through its private real estate investment trust, Flagship Healthcare Trust, Inc. (Flagship REIT). As the new owner of the building, Flagship will provide property management, leasing and asset management services.

The transaction was brokered by the CBRE – Capital Markets and Institutional Properties team. Financing was provided by the Charlotte branch of Atlantic Union Bank.

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