Montecito Medical Completes 17th Acquisition This Year
Novant Medical Group is the anchor tenant for the Jetton Medical Park, leasing nearly 80% of the total square footage of the two buildings.
For more information on healthcare real estate news, join us at REALSHARE HEALTHCARE in SCOTTSDALE, AZ, from Dec 5-6, 2018. This event brings together the best and brightest in the healthcare CRE industry as developers, owners, investors, brokers, and financiers convene to discuss the top trends in healthcare real estate. This conference is powered by GlobeSt.com, the go-to-source for healthcare real estate news and analysis. To register for REALSHARE HEALTHCARE, please visit https://www.eiseverywhere.com/ehome/306663/661182/
CORNELIUS, NC—Montecito Medical Real Estate has closed on its 17th purchase deal in 2018—the acquisition of the Jetton Medical Park portfolio here.
Jetton Medical Park is situated in a high-end office, medical, retail and residential development in Cornelius, an affluent suburb approximately 20 miles north of Charlotte. The campus includes two adjacent, two-story medical office buildings, both constructed in 2007, with a combined total of nearly 45,000 square feet.
Montecito Medical acquired the property from Woodside Health for an undisclosed price.
“We are excited to add the Jetton Medical Park to our expanding portfolio,” said Chris Conk, principal and vice president of acquisitions for Nashville, TN-based Montecito Medical Real Estate. “Over the years, our company has developed a solid record for acquiring prime medical office properties, and Jetton is one of this area’s most desirable medical office facilities. Its fundamentals are impressive, and it is anchored by a strong health system in an extremely attractive location.”
The Jetton Medical Park transaction is the 17th medical office property that Montecito has acquired year-to-date. Conk adds that the company has “a robust pipeline of additional acquisitions that we will execute on as we approach the fourth quarter of 2018.”
Novant Medical Group is the anchor tenant for the Jetton Medical Park, leasing nearly 80% of the total square footage of the two buildings. A wholly owned affiliate of Novant Health, Inc., Novant Medical Group is an integrated network of physician clinics, outpatient centers and hospitals. Headquartered in Winston-Salem, NC, the organization consists of more than 1,500 physicians in 500 locations serving more than 4 million patients annually across a four-state area.
Novant occupies approximately 89% of Jetton Medical Park I, using the facility for multiple practice specialties including primary and urgent care, family medicine, pediatrics, women’s health, dermatology, orthopedics and sports medicine as well as for training residents in family medicine.
Jetton Medical Park II is home to Novant’s Maternal-Fetal Medicine Practice, which provides care for women in both high-risk and routine pregnancies. Novant also maintains an administrative and billing office to support the operations of the health network throughout the region. Carolina Asthma and Allergy Center also has a strong presence at this location.
In the final installment of this year’s Influencers series, Real Estate Forum is putting the spotlight on the people and organizations that have helped to shape the field of Healthcare Real Estate. Don’t miss your chance to nominate a Healthcare Influencer today!