Nashville Medical Office Building Trades For $33M

Saint Thomas Health has paid $33 million for a 163,539-square-foot medical office building in Nashville, Tenn., public records show.

The seller was a Florida-based private investor, according to Yardi Matrix information. The buyer already owned the land and was leasing it to the seller via a ground lease agreement.

2011 Murphy Ave. (PHOTO CREDIT: Yardi Matrix)

Located at 2011 Murphy Ave., the six-story building is adjacent to both TriStar Centennial Medical Center and Saint Thomas Midtown Hospital, roughly a mile from Vanderbilt University and less than 2 miles from downtown Nashville. The asset has easy access to major transportation arteries including interstates 40, 65 and 440 and is a short distance from a variety of retail and hospitality options.

Completed in 1998 on a 5.4-acre site, the property is fully leased to Saint Thomas Health. The health-care provider offers services including women’s care and spinal and joint replacement surgery through specialized clinics.

Earlier in July, one of the country’s largest health-care administration companies announced the selection of Charlotte, N.C., as the location of its upcoming $1 billion East Coast headquarters. Centene Corp.’s 1 million-square-foot property will bring an estimated 6,000 jobs to the metro.

Source: Commercial Property Executive