LITHIA, Fla., August 2, 2022 — Montecito Medical has completed the acquisition of a 37,000-square-foot medical office building in Lithia, Florida.
The building, which opened in 2021, is fully occupied under long-term lease by Orthopaedic Medical Group (OMG) of Tampa Bay.
“This is an outstanding asset in a very attractive submarket, and we are especially excited by the opportunity to work directly with the physicians of OMG and help them make the most of their real estate,” said Jake Clark, Acquisitions Associate at Montecito Medical.
OMG, one of the fastest growing orthopedic groups in the Tampa-St. Petersburg area, maintains 8 locations. At the Lithia property, which serves as the group’s flagship location, OMG provides clinical services, orthopedic surgeries, and physical therapy.
“Orthopaedic Medical Group is dedicated to providing quality facilities for its providers, patients and staff,” said Bill Romaniello, Director of Business Development for OMG. “We are excited about adding the Fishhawk/Lithia facility as our flagship location and starting our partnership with Montecito to ensure the facility continues to serve the community for many years to come.”
Lithia/Fish Hawk is a growing suburban area 25 minutes southeast of downtown Tampa. The OMG property is situated Fish Hawk Blvd. in the middle of a new mixed-use development that includes single-family and multi-family residential, a retail plaza and middle school.
The Lithia acquisition expands Montecito’s footprint in the Tampa-St. Petersburg market area. “We are making a substantial real estate investment here, and we anticipate that we will be able to announce additional acquisitions later in the year,” said Chip Conk, CEO of Montecito Medical.
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 $5 billion in medical real estate. Headquartered in Nashville, TN, Montecito has been named as a “key influencer in healthcare real estate” for four consecutive years by GlobeSt.com and the editors of Real Estate Forum. Chip Conk, the company’s CEO, was named Healthcare Real Estate Executive of the Year for 2021 by Healthcare Real Estate Insights. For more information about Montecito Medical, please visit www.montecitomac.com.
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