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Institutional Property Advisors Brokers MOB Sale in Suburban Washington D.C.
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Maryland Trade Center III, a 192,000-square-foot Class A medical outpatient building (MOB) in Greenbelt, Maryland. The property sold for $27.5 million, or $143 per square foot. The MOB is approximately 75% leased and anchored by Luminis Health, which selected the property for its recent outpatient expansion. Completed in 1989, Maryland Trade Center III has been upgraded in recent years with a new lobby and systems upgrades. In addition to Luminis Health, tenants include Greenbelt Oncology, Absolute Care of Maryland, LabCorp, Community Radiology Associates, Anne Arundel Dermatology and Health... Read More »
Montecito Medical Acquires Medical Center in Warwick, Rhode Island
On July 22, Montecito Medical Real Estate announced that it acquired a medical outpatient building (MOB) in Warwick, Rhode Island. The MOB comprises 67,186 square feet. The facility, which also doubles as a surgery center, is leased to two leading providers: Ortho Rhode Island, a physician-owned practice with statewide reach, and Spire Orthopedics, the largest orthopedic platform in the region. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions involving more than $6.5 billion in medical and veterinary real estate transactions. This marks Montecito’s 18th transaction of... Read More »
Blue Ridge Capital Fund Acquires Lexington, North Carolina Medical Outpatient Building
On July 21, Blue Ridge Capital Fund announced that it acquired a Lexington, North Carolina medical outpatient building (MOB). The MOB comprises 13,466 square feet. It is anchored by Triangle Family Dentistry, which is operated by Light Wave Dental Management, and has committed to a 10-year lease for 6,500 square feet. Blue Ridge Capital Fund is a real estate investment fund focused on sustainable, healthcare-anchored commercial real estate in high-growth secondary and tertiary U.S. markets. It was launched by AB&B Commercial Real Estate. This marks Blue Ridge Capital Fund’s sixth transaction since November 2024, according to the press release. The financial... Read More »
Chicago Pacific Founders Healthcare Real Estate Buys Washington D.C. Area MOB for $27.5 Million
Chicago Pacific Founders has acquired a twelve-story, 192,000-square-foot Class A medical outpatient building (MOB) in the Washington, D.C. MSA for $27.5 million. The acquisition was made through the Chicago Pacific Founders Healthcare Real Estate business (CPF HCRE). The property enjoys 74% occupancy, majority medical tenancy and a weighted-average lease term of six years. Anchored by Luminis Health under a new ten-year lease, the property is located 1.2 miles from Luminis Health Doctors Community Medical Center. The purchase price is roughly $143 per square foot. With $2.7 billion in assets under management, Chicago Pacific Founders is a leading private equity firm with... Read More »
Montecito Medical Buys MOB Portfolio in New York
Montecito Medical Real Estate announced that it has acquired a three-building oncology medical outpatient building (MOB) portfolio in New York for an undisclosed price. The MOB portfolio is located on New York’s Long Island and totals 72,638 square feet of rentable space. The buildings are located in Port Jefferson, Southampton and Research Ridge, New York. They are fully leased to New York Cancer & Blood Specialists, an oncology and hematology provider that operates more than 40 locations throughout New York City, Long Island and the Hudson Valley. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions... Read More »Schedule a demo
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