September 22, 2021
The Hamilton Young Building
Momentum Commercial Real Estate Services ("Momentum"), a full-service commercial real estate firm based in Nashville, TN, today announced the purchase of its first medical office building located in Clarksville, TN for $6,250,000.
The Hamilton Young Building, located at 800 Weatherly Drive and developed in 2009, was acquired in an off-market transaction. The 22,604 SF, two-story building is prominently located at the entrance of Weatherly Professional Park off Ted Crozier Boulevard, home to numerous outpatient healthcare businesses.
Building occupancy was at 93% at the time of closing with a good mix of healthcare uses including dentistry, urology, pharmacy, medical clinic, and eye care. Momentum will professionally lease and manage the asset going forward.
This acquisition emphasizes Momentum's commitment to further its capabilities by creating value via acquisitions, leasing, and asset management of office and medical office buildings in growing Southeast markets.
With offerings like Clarksville's new multi-purpose event center under construction downtown, significant investments in the city by companies like Amazon and Google, and Money magazine naming Clarksville a best place to live in America, we have been keeping our eye on Clarksville, and are thrilled to make our first investment in the city, said Momentum founder and CEO Sharon Emerson.
Momentum is actively pursuing additional medical office building investments across the Southeast to provide diversification and opportunity for its clients and investors.
Founded in 2019 by industry veteran Sharon Emerson, Momentum is a full service commercial real estate firm located in Nashville, TN. The company focuses on professional office and healthcare oriented real estate acquisitions, leasing and management. The company's mission is to provide tenants, landlords, partners, and investors the most professional, informative, and dedicated services in the industry.