Although rumors were swirling that MedAssests Inc. would anchor a new office tower, the hospital solutions providers has decided against the move. MedAssets has decided instead to renew in place at North Point Center East in Alpharetta. MedAssets is expanding to 107,000 SF for fifteen years, with an option to extend the lease another ten years. The deal is valued at more $34 million.
One of the main reasons MedAssets spent time shopping around the market was that they were hoping to create am upgraded work environment for their employees, including new amenities and features that could encourage collaboration. In order to keep MedAssets, the office park will undergo some renovations to make it a more appealing place to work; renovations include a fitness center expansion and a handful of other property upgrades.
MedAssets could see a change of ownership almost immediately as Cousins Property is poised to purchase North Point Center East for $348 million. The deal could close by the end of October.Share