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Fully Leased Medical Office Building Sells in Pell City

INRI Medical Associates Completes Sale of Northside Medical Office Building
January 12, 2018
INRI Medical Associates PC has sold the Northside Medical Office Building at 70 Plaza Dr. in Pell City, AL for $9.34 million, or about $311 per square foot.

The 30,000-square-foot, single-story medical office building is fully leased with Northside Medical Associates serving as its anchor tenant. As a part of the transaction, Northside Medical Associates agreed to enter a long-term, NNN lease.

Completed in 201, the MOB is located near Ascension St. Vincent's Hospital in St Clair County.

"This transaction is a good example of the strength of the medical building marketplace that currently exists", said Greg Trainor, managing partner with Fairfield. He went on to say how their firm helped the seller take advantage of market conditions and that similar buildings are drawing an increased interest from a wide range of buyers.

Greg Trainor of Fairfield Advisors brokered the disposition on behalf of the seller.

Please refer to CoStar Comp #4104047 for additional information on the transaction.
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