Piedmont Healthcare, the parent of several major metro Atlanta hospitals, said it has acquired a medical office building in the 1900 block of Peachtree Street that it has been eyeing over the years.
Piedmont Healthcare said it purchased the Sheffield Medical Building, a 78,000-square-foot structure in its midst at 1938 Peachtree St., from Sheffield Properties LLC.
“We looked at acquiring this building many times over the years,“ Piedmont Healthcare President and Chief Executive Officer Kevin Brown said in a statement. “It is a significant piece of property on the Piedmont Atlanta campus that Piedmont Healthcare didn’t own.”
As part of the deal, Piedmont Healthcare is paying an undisclosed amount of cash and Sheffield received two of Piedmont Healthcare’s properties: an office building at 4890 Roswell Road in Roswell and one at 3020 Paces Mill Road in Vinings.
Piedmont Healthcare’s network includes Piedmont Hospital in Buckhead, Piedmont Fayette Hospital in Fayetteville, Piedmont Newnan Hospital in Newnan and Piedmont Henry Hospital in Stockbridge. Piedmont Heart Institute, Piedmont Physicians Group and the Piedmont Clinic are also part of the network.
Last year, Piedmont Healthcare announced it would become an affiliate of the renowned University of Texas MD Anderson Cancer Network.
Piedmont Healthcare said it will continue to occupy its former medical buildings in Roswell and Vinings and it will provide property management services for the Sheffield Medical Building, which was built in 1963.
