Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 15,153-square-foot medical office building in Raleigh, North Carolina.
The property is 100% occupied by Raleigh Pediatric Associates.
“We are delighted to acquire this prime medical office asset and to enter into a long-term relationship with one of the area’s most well-established and respected specialty groups,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.
Raleigh Pediatric Associates, the dominant pediatric practice in the Raleigh area, has cared for patients and families for over 50 years. The group maintains two locations in Raleigh.
“The Raleigh-Durham-Chapel Hill Triangle, where we have now acquired two properties in recent weeks, is one of the fastest growing population centers in the country and an area where we continue to find opportunities to help providers leverage their real estate to build wealth and stronger practices,” said Chip Conk, CEO of Montecito Medical.