Marcus & Millichap announced the sale of a medical outpatient building (MOB) in Florida on January 24. Marcus & Millichap’s Frank Roti, Brett Rodgers and Alex Sacks represented the seller, Emerald Coast Diversified Properties, LLC, and procured the buyer, Montecito Medical Real Estate. The property sold for $25.35 million, or $539.45 per square foot.
The 46,992-square-foot MOB is located in Fort Walton Beach, Florida. Built in 2008, the three-story building is adjacent to the 257-bed HCA Florida Fort Walton-Destin Hospital, near the Oskaloosa Heart & Vascular Center.
Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions involving more than $5 billion in medical real estate across the United States.
According to data captured in the LevinPro HC database, this transaction marks the 20th MOB acquisition of 2025, and the third in Florida. There were 213 MOB deals announced during 2024, 199 announced during 2023 and 217 announced during 2022.
This also represents Montecito Medical’s fifth acquisition of the year, and its second in Florida. Since the start of 2025, Montecito Medical has announced MOB acquisitions in Florida, Georgia and California. Montecito Medical made 27 MOB acquisition announcements during 2024, 37 during 2023 and 43 during 2022.
