PLANNED MOB CONVERSION IS MANAGED CARE FIRM’S LATEST DEAL IN D.C. AREA
By John Mugford
Kaiser Permanente has been snapping up real estate in the Washington area.
It’s latest deal was the acquisition of this office building in Gaithersburg, Md.
Rendering courtesy of Monument Realty
Oakland, Calif.-based Kaiser Permanente recently acquired a 200,000 square foot office building in Gaithersburg, Md., for $42.8 million. Kaiser plans to convert it into a medical office facility.
Kaiser’s plans call for offering primary care, specialty care, full-service imaging, pharmacy services and urgent care services in the building. The provider is planning to open the building in the summer of 2012.
The existing building is known as Monument Corporate Center I. It is located at 655 Watkins Mill Rd., near Interstate 270 in Montgomery County, Md. The building that Kaiser acquired had a loan balance of $33.7 million and was vacant.
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