Med Office Daily - March 12, 2025

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NEWS ROUNDUP

ACQUISITION: Montecito Medical acquires three-MOB portfolio in the Atlanta area. The three medical office buildings, totaling 52,726 SF, located in Ball Ground, Woodstock, and Dawsonville, Georgia, are fully occupied by Aylo Health, a leading multi-specialty physician group. SVP of Investments Rus Gudnyy and CEO Chip Conk represented Montecito Medical in the transaction. This marks Montecito’s fourth medical office acquisition in Georgia in 2025 and its 13th since 2022, with more transactions expected in the coming weeks.

ACQUISITION: Woodside Health acquires three-MOB portfolio in the Houston MSA. The properties—Conroe Medical Arts Center, Kingwood Executive Center, and Texas Children’s Medical Building— totaling 122,000 rentable SF, are strategically located near major hospitals and healthcare systems. Principal Ben Barr represented Woodside Health in the transaction. This marks Woodside Health’s 62nd acquisition since 2008, further strengthening its presence in the medical outpatient building market across multiple states.

LEASE SIGNING: CBRE engages as the exclusive leasing agent for Coral Springs Medical Center in Coral Springs, Florida. The 50,000 SF, four-story, Class A medical office building, located at 1725 North University Drive, features three available medical office spaces, including a 14,500 SF surgical center, a 5,583 SF medical suite, 2,340 SF administrative space, ample parking, and prime signage opportunities. The property is near Broward Health Coral Springs and HCA Florida Woodmont Hospital. Christopher Dubberly and Jacob Sanchez of CBRE’s South Florida Healthcare team represented the owner, Remedy Medical Properties.

DEVELOPMENT: Broward Health breaks ground on the first freestanding emergency department in Lighthouse Point, Florida. Designed by HKS Architects and built by The Beck Group, the new two-story, 14,251 SF facility will feature 10 exam rooms in the 9,418 SF emergency department and an additional 9 in the 4,833 SF medical office space. The center is expected to treat 18,000 patients annually and generate over $15 million for the local economy. Completion is scheduled for Spring 2026.  Shane Strum, Christopher Pernicano, and David Clark represented Broward Health. Lighthouse Point Mayor Kyle Van Buskirk and director of Beck’s South Florida office Bryan Wilson were also there.

DEVELOPMENT: Cherokee County approves a medical complex on Union Hill Road at East Cherokee Drive. The Board of Commissioners voted 3-2 on March 4 to approve a request from Mack Development Group, LLC to rezone 7.45 acres for medical office use, allowing for up to 50,000 SF across two to five buildings. No specific tenants have been identified for the site yet.

FINANCING: Cypress West Partners, in a joint venture with TPG Angelo Gordon, secures a medical office portfolio financing and future acquisition credit facility with Capital One Bank. The financing covers six Class-A medical outpatient facilities, totaling 269,000 SF across Orange County, San Diego, and Phoenix, with additional capacity for future acquisitions. Newmark Healthcare Capital Markets advised and arranged the facility on behalf of the joint venture. The partnership aims to acquire up to $300 million in medical office assets in high-growth Sunbelt markets. CEO Chris Cumella represented Cypress West while Frank Virga represented TPG Angelo Gordon in the transaction.

MED OFFICE PROPERTIES FOR SALE

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21,334 SF Suite | 12,500 SF Building (2 Story) | Access to Newark Liberty International Airport | 10 Surface Parking Spaces

12,024 SF Building | Ample Parking | 7.91% Cap Rate

16,464 SF Medical Office Building | 7.5 Parking Ratio | 8.00% Cap Rate

MED OFFICE PROPERTIES FOR LEASE

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7,300 SF Building | 290 Parking Spaces

4,054 SF Suite | 81,019 SF Building | Access to 55, 5 Freeways, and John Wayne/Orange County Airport and Long Beach (Daugherty Field) Airport | 67 Parking Spaces

1,805 - 4,738 SF Suite | 4,738 SF Building | Access to I-25 | 66 Parking Spaces

ONE MORE THING

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