Arthritis & Osteoporosis Consultants of the Carolinas purchases $5.4M office building in Dilworth

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Charlotte-based medical group Arthritis & Osteoporosis Consultants of the Carolinas (AOCC) has acquired 927 East Boulevard in Dilworth for more than $5 million. AOCC Joint Ventures, LLC purchased the 10,819-square-foot office building from NMCD, LLC. The $5.4 million sale closed in September according to Mecklenburg County Real Estate records.

Matthew Hagler, Director of Commercial Real Estate for KW Commercial for the Ballantyne Area Market Center, arranged the sale and represented the seller in the transaction. “When the seller indicated they wanted to divest this property, I connected with Vernon Wood, who represented the buyer. My goal was to bring competitive offers to the seller and meet their pricing objective and closing timeline,” Hagler said.

When Hagler realized that AOCC needed more space than was available at the site, he connected them with architect Erik Winer with INTEC Group. Inc. so that they could see the potential opportunities with renovations to the building. “This high visibility property is in a prime location, especially for a medical provider, as it is situated near two top-tier hospitals. It possesses impressive acreage and square footage, which underscores the enduring value of a well-placed asset in today’s competitive business landscape,” Hagler said.

CharCom Properties’ Vernon Wood represented the buyer. “AOCC’s direction was to locate land for a 25,000 square foot build to suit office building with surface parking or a parking garage for up to 125 parking spaces or find an improved lot with an office building which could be expanded and add sufficient parking,” Wood said. “AOCC Board met and agreed upon a purchase of [927 East Boulevard] because of the size of the parcel being 1.12 acres of land with a 2-story office building that hopefully can be expanded.”

According to Wood, AOCC has plans to increase the size of the building with up to four stories of offices and an underground parking garage for approximately 125 parking spaces. Wood added, “Different architectural plans are being considered for the property to fit into the historical Dilworth community.” AOCC was founded in 2000 to establish an independent rheumatology practice. Now with 10 physicians and 5 advanced practice providers, AOCC is the largest independent rheumatology practice in the Southeast.

With over twenty years in the industry, Matthew Hagler has extensive experience in office, retail, industrial, multifamily and land transactions. His background in multiple disciplines enables him to effectively manage his team of broker specialists in each category within commercial real estate. A Charlotte native, known for his creative ways to save deals, Matthew has successfully closed hundreds of deals on behalf of his clients. For more information on KW Commercial or Matthew, contact [email protected] or (704) 408-8867.