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Med Office Daily - April 30, 2025

Med Office Daily - April 30, 2025

Montecito Medical acquires Chandler MOB. Marcus & Millichap arranges MOB sale-leaseback. PMB, Sharp Rees-Stealy top out MOB. UCLA Health renews Santa Monica lease. Turner Impact secures $29.1M for renovation. Six new MOB deals.

Matt H & Maham Riaz
April 30, 2025

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NEWS ROUNDUP

ACQUISITION: Montecito Medical acquires MOB in Chandler, Arizona. Located across from Banner Ocotillo Medical Center, the 66,000 SF, single-tenant facility is fully leased to Banner Health. CEO Chip Conk and SVP of Investments at Montecito Medical Rus Gudnyy represented Montecito Medical in the transaction.

ACQUISITION: Marcus & Millichap arranges sale-leaseback of MOB in Rochester Hills, Michigan. The 9,231 SF property, occupied by Stonebrooke Family Physicians, sits on 0.93 acres at 2940 Crooks Road, offering quick access to M-59 and I-75. The facility, built in 2005 and recently updated, features 7,431 SF of clinical space and 1,800 SF of administrative space. Seth Haron, Darin Gross, and Ashish Vakhariya of Marcus & Millichap’s Detroit office represented the seller and procured the buyer.

DEVELOPMENT: PMB and Sharp Rees-Stealy top out MOB in Chula Vista, California. Designed by HGW and built by Pacific Building Group, 75,000 SF medical outpatient building is located on more than 15 acres at 480 H St. in Chula Vista, a submarket of San Diego. The facility is being developed in partnership with Solaris Community Capital, Chase New Markets Corp., and Border Communities. Nearby healthcare providers include Scripps Mercy Hospital and Sharp Chula Vista Medical Center.

LEASE SIGNING: UCLA Health renews 22,224 SF medical office lease in Santa Monica, California. The 54,930 SF, three-story building serves as medical office and research space. Harrison Street acquired the facility from The Carlyle Group in 2022 for $58.6 million. JLL’s Bryan Lewitt, Monica Enes, and Chris Isola, along with Anchor Health Properties, represented the landlord, Harrison Street Real Estate Capital. UCLA Health was represented in-house by Senior Leasing Specialists Matt Ceragioli and Greg Park. Health, Integrative Endodontics, and Pinnacle Surrogacy.

FINANCING: Turner Impact Capital secures $29.1M for Chula Vista Medical Arts I renovation. The loan, provided by Siemens Financial Services and arranged by JLL, matures in 2031.Turner acquired the 64,231 SF, Class B, five-story facility in April 2024 for $18 million from Welltower. Renovations will convert part of the facility into a community health center for San Ysidro Health. The tenant roster includes Quest Diagnostics and Colton Health among others. JLL’s John Chun and Matt DiCesare represented the borrower in the transaction.