FOR IMMEDIATE RELEASE
July 19, 2021
Nashville, Tenn. — Montecito Medical Real Estate, a premier owner of medical office properties throughout the U.S., has completed the acquisition of a newly constructed medical office building in the Indianapolis area.
The single-story, freestanding facility, located in the suburban market of Whiteland, Indiana, includes 19,360 square feet of medical office space. The building was completed in 2021 on a build-to-suit basis and is 100% occupied with a long-term lease.
“At a time when demand for new medical office properties is increasing, especially in suburban and secondary markets, we are pleased to have been selected as the purchaser of this outstanding asset,” said Chip Conk, CEO of Montecito Medical Real Estate. “The acquisition also enables us to build on our strong and growing presence in the Indianapolis metro area and to deepen our relationships with outstanding local providers.”
Physicians at the location offer primary care and a range of specialty medical services.
The property is advantageously located at 503 Greenwood Trace in Whiteland, a growing suburb on the south side of Indianapolis. The building is situated next to a busy corridor, US Highway 31, and adjoins large residential neighborhoods. Greenwood is a community with attractive demographics, including a high median household income and a rate of job growth (both current and projected) that outpaces the national average.
The acquisition continues Montecito’s steady expansion in central Indiana. In the past 12 months the company acquired three medical office buildings in Zionsville, Franklin and Indianapolis respectively.
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 medical real estate owners and healthcare providers seeking to monetize or expand their holdings. Since 2006, it has completed transactions across the United States involving more than $4 billion in medical real estate. Headquartered in Nashville, TN, Montecito has been named as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Healthcare Real Estate Insights.
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Montecito Medical Real Estate
3807 Cleghorn Avenue
Nashville, TN 37215
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