Montecito Medical, a premier owner of medical office properties throughout the U.S., has completed the acquisition of a surgery center building in suburban Phoenix. The property, which offers approximately 9,800 square feet of space, is fully leased to Optimum Surgical Center. “We are excited to add this outstanding surgery center asset to our growing portfolio of medical properties in the Phoenix area,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical. “We look forward to being part of a long-term relationship with the dynamic group of young physicians as they grow.” “Optimum Surgical Center is a leading outpatient surgical facility in the Valley, and we look forward to a successful long-term partnership with Montecito Medical,” said Grant Cook, CEO, National Surgery Consultants. Mari Lederman of JLL represented the seller in the transaction. The physicians in the Optimum Surgical Center practice specialize in orthopedic and interventional pain management procedures. The facility includes three operating rooms, seven pre-operation rooms and five recovery suites. The surgery center is situated in suburban Deer Valley, a half-hour's drive from downtown Phoenix, close to Interstate 17 and Loop 101 and approximately one mile from Honor Health Deer Valley, a 204-bed hospital. For the fifth consecutive year, Phoenix ranked in 2021 as America’s fastest growing city, making it one of the most desirable markets for medical office real estate. Over the previous decade, the Phoenix MSA has experienced population growth of 18%. Stuart Scheinholtz of Tiburon Realty Advisors represented Montecito in its purchase. “The transaction spanned 16 months,” Scheinholtz said. “It’s a tribute to Montecito that they were always available and ready to move this forward.” The acquisition of the surgery center property continues Montecito’s expansion in the market. In the past two years, the company has acquired five other medical office properties in the greater Phoenix area. “For a number of reasons, Phoenix is a market where we want to be,” said Montecito CEO, Chip Conk. “We are excited about the opportunities here to help owners of medical properties make the most of their real estate.”
