Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 20,400 square-foot medical office property in Gainesville, GA.
The building is 100% occupied and tenanted under long-term lease by three provider groups that include a nationally renowned imaging group, the region’s dominant physical therapy provider, and Smile Doctors, the nation’s largest orthodontic-focused dental support organization with nearly 400 locations in 28 states.
“We are thrilled to acquire this outstanding medical property and to expand our strong presence in the Greater Atlanta area and across the state of Georgia,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Approximately 50 miles northeast of downtown Atlanta and with a growing population of more than 130,000, Gainesville was named by Forbes magazine as one of America’s “Best Small Places for Business and Careers.”
“We remain very bullish on medical real estate, and we are particularly excited about the excellent opportunities we continue to find in Georgia to invest in medical properties and help providers make the most of their real estate assets,” said Chip Conk, CEO of Montecito Medical.