Flagship Obtains Medical Plaza in Huntersville

By Eric Althoff

HUNTERSVILLE, N.C.—Healthcare real estate development firm Flagship Healthcare Properties has added to its portfolio in the Charlotte region with its recent purchase of Huntersville Medical Plaza, a two-story, 26,166-square-foot outpatient medical office building (MOB) located in the suburb of Huntersville.

The MOB, a Class A facility, was first constructed in 2009 in an area known as Lake Norman.  Its location at 17220 Northcross Drive allows for easy access to Interstate 77, and it is located near the large Birkdale Village apartment complex.

In addition to the building itself, Flagship will inherit the Huntersville Medical Plaza’s major tenant, Novant Health Huntersville Pediatrics & Internal Medicine, which already occupies the entire first floor of the MOB, utilizing 13,000 square feet of healthcare space therein.  Novant Health’s offered services at the MOB include geriatric care as well as neonatal facilities.

In a statement regarding the buy, Flagship’s executive vice president of acquisitions, Gerald Quattlebaum, said that his company will work with Novant, as well as other prospective tenants, on making use of “the advantages of this well-located MOB in this dynamic part of the Charlotte market.”

“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,” Quattlebaum said.

In addition to being the new owners, Quattlebaum’s firm will perform asset management and property management.

Flagship bought the Huntersville Medical Plaza through its real estate investment arm, which is called Flagship Healthcare Trust, Inc.  The deal was brokered by CBRE’s Institutional Properties Group, and was financed by the Atlantic Union Bank’s Charlotte branch.

Flagship, which is based in Charlotte, has bought several medical properties recently in North Carolina’s largest city.  Earlier this summer they also acquired a MOB in the Charlotte suburb of Hickory as well as the nearby Tate Medical Commons IV medical complex.

The firm currently manages over 4 million square feet of healthcare real estate space at 165 properties.