Montecito Medical Acquires Medical Office Property in Tampa Area
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 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 has been named for five consecutive years as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum. For more information, please visit www.montecitomac.com.