KNOXVILLE, Tenn. – Maddox Property Management and Sales, Inc. announced formation of the WestMed Medical Office Condominium near ParkWest Hospital. The property is a Class A office building at 10133 Sherrill Boulevard.
Institute for Female Pelvic Medicine, an OB/GYN practice and Functional Pathways, a national leader in physical therapy and rehabilitation, have purchased and occupy suites in the building, with nearly half of the building already committed.
"Proximity to major hospitals and absence of any Class A medical office condominium inventory in West Knoxville led to this venture." said Steve Maddox, whose firm is spearheading the efforts with building owner Knorr Family Properties, LLC. "We're hearing good feedback from our first buyers as to ease of access and parking for providers and patients, complimented by a relaxed park-like setting, and high presence and easy access from I-40/75 and Pellissippi Parkway. Providers are able to quickly and easily reach Parkwest and all other major West Knoxville medical facilities from the building."
The building is separated from Parkwest Medical Center, by 1.5 miles via the 5 lane Sherrill Boulevard, devoid of heavy traffic or street signals. Additionally, Fort Sanders West and Tennova Turkey Creek medical centers are all within 10,000 feet of the WestMed Building.
Remaining suites range from as small as 2,000 square feet to 25,000 square feet.
"We're seeing providers that are able gain a cash flowing investment property that continues to build equity over time and can provide tax write offs, and at the same time their practices are realizing lower occupancy costs and reaping the operational and marketing benefits that the building and location provide." said Maddox.
Parties interested in medical office condominium suites in the WestMed Building can contact Brandon Clark or Steve Maddox at (865) 522-9910, or visit www.WestMedBuilding.com.