CBRE Advises on Sale of EmergeOrtho ASC in Durham, NC

CBRE is pleased to announce that it facilitated the sale of EmergeOrtho Southpoint, a 35,171-square-foot medical outpatient building (MOB) and ambulatory surgery center (ASC) located at 7810 NC Highway 751 in Durham, North Carolina, to BGO.

Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Tom Fritsch of CBRE Raleigh and Joe Graham of the CBRE Net Lease Property Group to act as the exclusive advisors to the seller.

EmergeOrtho Southpoint is in the desirable Southpoint submarket of Durham with great access to all locations within the Triangle area of Durham, Raleigh and Chapel Hill. The facility serves as a comprehensive orthopedic care center and is fully occupied by EmergeOrtho, North Carolina’s largest orthopedic group, and its affiliated Southpoint Surgery Center, a joint venture between EmergeOrtho and Surgery Partners (NASDAQ: SGRY), with a weighted average remaining lease term of 13+ years. The property, part of the larger Westpoint development, was constructed in 2020 and features two operating rooms and four procedure rooms focused on high-margin orthopedic surgeries.

“EmergeOrtho Southpoint is an exceptional high value, new construction medical property in the dynamic Durham healthcare market,” said Cole Reethof, CBRE’s Vice President of the U.S. Healthcare Capital Markets practice. "The rare Triangle location, coupled with the strong long-term tenancy of North Carolina’s leading orthopedics practice, creates a stable investment for many years to come.”

EmergeOrtho Southpoint is prominently located at the convenient interchange of Interstate 40 and NC Highway 751 in a prime retail development. The Triangle region is well recognized for its vibrant and diversified economy, top tier research universities boasting Duke University, University of North Carolina – Chapel Hill and North Carolina State University and exceptional demographic growth with 2.2 million area residents. The 7,000 acre Research Triangle Park is the largest research park in the nation and serves as a magnet for technology and life science research and production, situated in the center of the Triangle and near the international airport.

BGO, based in New York, is considered one of the largest real estate investment firms in the world with $89 billion assets under management in 25 cities in 12 countries. BGO’s clients prosper from a full range of targeted investment strategies across North America, Europe, and Asia. For more information, please visit: www.bgo.com.