A project in Jackson, TN includes a $21 million, class A medical office building attached by a pedestrian walkway to the Jackson-Madison County General Hospital. Bank Corp South is providing funding for the project, reports Spencer. Medical Center Physicians Tower, as the building has been dubbed, is a 106,772-square-foot, five-story facility with an eight-level parking deck. The 75% leased building will be anchored by a 67,000-square-foot ambulatory surgery center, neurosciences group and pharmacy, commissioned and leased by the hospital's owner, West Tennessee Healthcare Inc. Rental rates at the new building are $24.40 per square foot full service, says Dev Gregg, senior VP of Erdman.

Physicians who lease space in the building will be given the opportunity to invest in the LLC that officially owns the structure, explains Spencer. "We are 50% owner and the managing entity and the physicians will own the other 50%." Robins & Morton of Birmingham, AL is the general contractor on this project. Completion is scheduled for the first quarter of 2010.

That same ownership structure is applied to an existing project Erdman has at an outpatient facility in Mebane, NC. That site, the Alamance Regional Mebane Outpatient Center, is the location of the company's second building. The developer is creating a $1.7 million, 7,890-square-foot expansion to the outpatient facility built there in 2007. The fully leased space will house a cancer center providing surgery, imaging, urgent care and physician office space. Expansion on the center is being funded by Erdman, and is expected to be complete during this year's third quarter. Greensboro, NC-based Samet Corp. is general contractor on this project, and Charlotte, NC-based RPA Design is the architect on both of the company's new developments.