Medical workplace constructing at 6101 W. Plano Parkway
Montecito Medical has acquired a 31,247-square-foot medical workplace constructing in Plano, Texas. Collin County information present Certainty Residence Loans bought the asset.
The property final traded in 2013, when the earlier proprietor acquired the constructing for $5.3 million from Prodea, in response to CommercialEdge information. In 2019, the asset grew to become topic to a $7.2 million mortgage, with a maturity date set for 2029, supplied by North Dallas Financial institution & Belief.
Chip Conk, CEO of Montecito Medical, acknowledged in ready remarks that the acquisitions and consequent partnering with medical suppliers affords the chance to seek out new methods to cut back prices, improve revenues and serve the sufferers by using AI-powered know-how options.
The ability was accomplished in 2000 and underwent beauty renovations in 2014. The 2-story, Class B property sits on 3.6 acres, options one passenger elevator, and affords managed entry and 182 parking spots at a ratio of 5.6 per 1,000 sq. ft.
The tenant roster consists of 5 medical suppliers, and the constructing is anchored by Dallas Neurological and Backbone, which affords medical companies reminiscent of imaging, bodily remedy, neurology, ache administration, wellness, regenerative drugs and behavioral well being companies.
The property is positioned at 6101 W. Plano Parkway, close to the intersection of Dallas North Tollway and President George Bush Turnpike, 10 miles from downtown Plano and roughly 20 miles from central Dallas. Different medical amenities within the space embody the American Institute for Plastic Surgical procedure and Dallas Oral Surgical procedure Associates, with Medical Metropolis Plano simply 4 miles away.
Montecito Medical’s footprint enlargement
Established in 2006, Montecito Medical has acquired medical workplace properties in 35 states, valued at greater than $5.1 billion. Just lately, the corporate grew its Kansas Metropolis footprint with the acquisition of a six-building portfolio, a complete of 95,769 sq. ft, bought by Uncover Imaginative and prescient Facilities.
Previously two years, Montecito continued to increase within the Dallas-Fort Value space as nicely, with the acquisition of 15 medical workplace buildings. In keeping with CommercialEdge information, 31 properties, of which 13 had been main medical places of work, have traded on this market year-to-date, a complete of roughly 3 million sq. ft.
