Healthcare Realty Trust Buys Suburban Raleigh MOB for $22M
- Nov 08, 2019
Wake Internal Medicine Consultants Inc. has sold Durant Medical Center, a 60,000-square-foot Class A medical office building in Raleigh, N.C., to Healthcare Realty Trust Inc. for $21.6 million, according to Yardi Matrix.
The building is Healthcare Realty’s first purchase in the Raleigh-Durham market, but the REIT has been active nationwide this year, with acquisitions totaling 774,122 square feet across 12 assets. In October, the investor acquired a two-building, 115,000-square-foot medical campus near Los Angeles for $61.1 million.
Located at 10880 Durant Road next to WakeMed’s North Hospital campus, Durant Medical Center is a mile from Interstate 540, 10 miles north of central Raleigh. The three-story building provides tenants 20,000-square-foot floorplates and has a load factor of 15 percent. The 2007-built property includes a walk-in urgent care center and is home to a number of health-care providers, including Raleigh Orthopaedic Clinic, Durant Road Pediatrics and Wake Gastroenterology.
The sale is the 10th medical office transaction to close this year in the metro, per data from Yardi Matrix. In July, Alex. Brown Realty and Heritage Properties paid nearly $9 million for a 72,000-square-foot health-care asset in Cary, N.C.