Montecito Acquires Additional Medical Office Property in Hagerstown, MD

Montecito Medical, a premier owner of medical office properties throughout the U.S., has completed the acquisition of a medical office building in Hagerstown, Maryland. 

The two-story building encompass 19,433 square feet of space. Meritus Pulmonary Consultants, part of the Meritus Health System, occupies 100% of the property. 

“We are pleased for the opportunity to enter into a long-term relationship with the leading health system in western Maryland,” said Colin Verlac, Acquisitions Associate at Montecito Medical. “As we build a growing presence in Hagerstown, we also are pleased to be able to help an increasing number of providers better serve their patients.” 

Julian P. Etches and Joe Donegan of Scheer Partners, Inc. brokered the transaction. 

Northwest of Washington, D.C., Hagerstown anchors one of the fastest growing metropolitan areas in the United States. The property is situated approximately 2.5 miles north from downtown Hagerstown, in a retail area surrounded by residential neighborhoods. The physicians who practice in the building provide pulmonary and sleep medicine services. 

With this acquisition, Montecito now owns three medical office properties in Hagerstown, representing a total of nearly 270,000 square feet. “We are very attracted to the strong fundamentals of this market, particularly the continuing growth,” said Chip Conk, CEO of Montecito Medical. “To date we have invested more than $30 million in this community, and we continue to pursue new opportunities here.” 

About Montecito Medical
Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and partnering with physicians and developers to fund development of medical real estate. The company also supports providers with a suite of AI-powered technology solutions that increase revenues, reduce costs and build physician wealth. Since 2006, Montecito has completed transactions involving more than $5 billion in medical real estate. Headquartered in Nashville, TN, the company was named for five consecutive years as a “key influencer in healthcare real estate” by and the editors of Real Estate Forum. For more information, please visit

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