Daniel Corporation announced today the purchase of the HealthSouth Corporate campus has been finalized. Daniel will brand and market the campus as Cahaba Center at Grandview, an expansion of the existing Grandview Corporate Park located directly across Highway 280. 

 

The $43.5 million deal includes the 103-acre corporate campus, the 200,000 square-foot corporate headquarters building, which will be renamed Grandview Plaza, the Cahaba Grand Conference Center, the distribution center building, the Riverpoint building and the 19-acre tract of land contiguous to the corporate campus that includes an incomplete 13-story digital hospital building. Under the terms of the deal HealthSouth will retain a 40% participation in any proceeds from the digital hospital. Lubert-Adler Partners, L.P., is Daniel’s equity partner in the deal.

 

Daniel also finalized the sale of the 66,000 square foot, Riverpoint building and the 4.2 acres on which the building sits to Nexity Financial Corporation for $8.5 million. This building will become the corporate headquarters for Nexity. 

 

HealthSouth has entered into a long-term lease arrangement with Daniel and will maintain its corporate headquarters in Grandview Plaza. Daniel will move their corporate headquarters to the Grandview Plaza building as well. In addition to Property Management and Leasing for all buildings, Daniel will operate and manage the Cahaba Grand Conference Center, which was previously operated by HealthSouth.  

 

Daniel is actively marketing the sale of 46 acres of land located within Cahaba Center at Grandview for future development.   Working with city leaders and consultants, Daniel is aggressively working to identify the best use and potential for the unfinished digital hospital building.