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Montecito Medical has acquired a medical workplace constructing in Richmond, Va. A personal investor offered the 35,000-square-foot asset for $16.6 million, in response to Henrico County information.
Senior Affiliate Alex Vidal and Affiliate Jacob Halle with Marcus & Millichap’s Nationwide Healthcare Actual Property Gross sales Group represented the vendor within the transaction.
The 2-story constructing is totally occupied underneath a long-term lease by Virginia Ladies’s Middle, a ladies’s well being companies supplier within the Richmond space. Medical companies on the clinic embody gynecology, obstetrics, urogynecology, breast well being/mammography, menopause administration, psychological well being, weight and wellness, bone well being/density, in addition to surgical procedures and procedures.
The well being heart is located within the metropolis’s Quick Pump suburb, at 12129 Graham Meadows Drive. The property supplies easy accessibility to U.S. Route 250 and Interstate 64, and is lower than 16 miles northwest of downtown Richmond. Medical suppliers within the surrounding space embody VCU Well being Ambulatory Surgical procedure Middle, MEDRVA Surgical procedure Middle at West Creek and AFC Pressing Care Quick Pump, amongst others. Apart from Richmond, Virginia Ladies’s Middle additionally operates in Kilmarnock, Mechanicsville and Midlothian.
As of late February, 13 different medical workplace properties had modified palms year-over-year within the Richmond market, totaling 284,769 sq. ft, in response to CommercialEdge information. The transaction quantity amounted to $26.4 million.
The identical supply exhibits that Montecito Medical owns eight different medical workplace amenities within the Richmond space, with a mixed footprint of 430,666 sq. ft. The portfolio contains one other property partially occupied by Virginia’s Ladies’s Middle. The corporate acquired the 91,186-square-foot constructing in 2021 for $32.5 million.
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