FOR IMMEDIATE RELEASE
January 18, 2021
Nashville, Tenn. — Montecito Medical Real Estate, a premier owner of medical office properties throughout the U.S., has completed the acquisition of a medical office building in the Richmond area that is occupied by a leading allergy and asthma practice.
The property, which is 100% leased to Richmond Allergy & Asthma Specialists, is located in Short Pump, Virginia, and offers just over 15,000 square feet of rentable space. The building was completed in 2010.
“We are very pleased to have acquired the building that is home to a leading practice in a dynamic medical market like Richmond,” said Chip Conk, CEO of Montecito Medical Real Estate. “We look forward to partnering with Richmond Allergy & Asthma Specialists as our long-term tenant and to helping them build an even stronger and more successful practice.”
The group provides care for a range of allergic diagnoses, including hay fever, food allergies, drug allergies and allergic skin conditions such as eczema and hives. They also provide allergy skin testing and allergy immunotherapy.
The property is advantageously located in Richmond’s Northwest Quadrant, at the center of the Glenside, Innsbrook and Short Pump submarkets, within Independence Park in Richmond’s vibrant West End. Its Independence Park Drive location provides immediate access to interstate highways I-64 and I-295. It also is in close proximity to HCA/Henrico Doctors’ Hospital and Bon Secours/St. Mary’s Hospital, with several other providers as neighbors, including Richmond Pediatric Associates, Independence Park Imaging, Hilleson-White Clinic, Virginia Endocrinology and VCU Health.
The practice also is advantageously situated for one other important reason: Richmond has been rated by the Asthma and Allergy Foundation of America as the most challenging city in America for spring and fall pollen allergies.
Henrico County is a growing and highly attractive market of approximately 335,000 people. The county is rated the #1 Best Place to Raise a Family in Virginia, boasts the #2-rated school system in the Commonwealth and is headquarters to four Fortune 1000 companies.
About Montecito Medical
Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and funding the development of medical real estate. Montecito is a leading resource for both real estate owners and healthcare providers seeking to monetize or expand their holdings. Montecito has offices in Nashville, Tenn., and Orange County, Calif. Since 2006, it has completed transactions in 31 states involving more than $4 billion in medical real estate and totaling over six million square feet. To date, Montecito has more than $1 billion in capital available to expand holdings in its medical office portfolio throughout the United States. Its current portfolio and healthcare system relationships include UCLA, Cleveland Clinic, Johns Hopkins, Holston Medical Group, Carolinas Health System, Urology of Virginia, Bon Secours, Maine General, EmergeOrtho and State of Franklin Healthcare Associates.
Our mailing address is:
Montecito Medical Real Estate
3807 Cleghorn Avenue,
Nashville, TN 37215
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