{"id":47403,"date":"2022-08-17T19:01:38","date_gmt":"2022-08-17T17:01:38","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/montecito-adds-medical-office-property-in-northeastern-pa\/"},"modified":"2022-08-17T19:01:38","modified_gmt":"2022-08-17T17:01:38","slug":"montecito-adds-medical-office-property-in-northeastern-pa","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/montecito-adds-medical-office-property-in-northeastern-pa\/","title":{"rendered":"Montecito Adds Medical Office Property in Northeastern PA"},"content":{"rendered":"
\n

NASHVILLE, Tenn.–(BUSINESS WIRE)–Montecito Medical has completed the acquisition of a medical office property in Bethlehem, Pennsylvania.\n<\/p>\n

<\/a><\/p>\n

\nThe two-story, multi-tenant St. Luke\u2019s Medical Office Building, which offers just under 20,500 square feet of space, is fully leased.\n<\/p>\n

\n\u201cWe are pleased to be entrusted with this outstanding asset and for the opportunity to build a relationship with a leading health system and the physicians who practice in this building,\u201d said Luke Zarzecki, Acquisitions Associate at Montecito Medical.\n<\/p>\n

\nJason Kramer, Josh Haber and Matt Lipson of Binswanger represented the seller in the transaction.\n<\/p>\n

\nSt. Luke’s Health System, the building\u2019s anchor tenant, is the leading provider of primary and specialty care in the greater Lehigh Valley in Pennsylvania and Warren County, New Jersey. With 14 hospital campuses and more than 2,000 physicians, St. Luke\u2019s University Health is one the region\u2019s largest health systems. The Bethlehem office is staffed by physicians specializing in internal medicine.\n<\/p>\n

\nBethlehem Eye Associates, the building\u2019s other tenant, is an affiliate of Prism Vision Group. The practice\u2019s 7 board-certified ophthalmologists provide advanced, comprehensive medical and surgical eye care. The physicians also teach the next generation of doctors, serving as a principal outpatient training location for St. Luke\u2019s University Health Network doctors.\n<\/p>\n

\nThe property is advantageously situated in the heart of Bethlehem at the intersection of two highly traveled roads with convenient access to Routes 378 and 22. The building is also within a busy corridor of medical offices that is less than three miles from two hospitals with a combined total of 850 beds.\n<\/p>\n

\nBethlehem, which is approximately 50 miles north of Philadelphia, is part of Pennsylvania\u2019s third-largest metropolitan statistical area (MSA).\n<\/p>\n

\nThe acquisition expands Montecito\u2019s growing footprint in eastern Pennsylvania, with additional acquisitions in the area planned for 2022. \u201cWe are making significant investments in medical real estate in this area and look forward to working with physician groups here to build wealth while building stronger practices for their patients,\u201d said Chip Conk, CEO of Montecito Medical.\n<\/p>\n

\nAbout Montecito Medical<\/i><\/b>\n<\/p>\n

\nMontecito Medical is one of the nation\u2019s largest privately held companies specializing in healthcare-related real estate acquisitions and funding the development of medical real estate. Montecito is a leading resource for both medical real estate owners and healthcare providers seeking to monetize or expand their holdings. Since 2006, it has completed transactions across the United States involving more than $5 billion in medical real estate. Headquartered in Nashville, TN, Montecito has been named as a \u201ckey influencer in healthcare real estate\u201d for four consecutive years by <\/i>GlobeSt.com<\/i><\/a> and the editors of Real Estate Forum. Chip Conk, the company\u2019s CEO, was named Healthcare Real Estate Executive of the Year for 2021 by Healthcare Real Estate Insights. For more information about Montecito Medical, please visit <\/i>www.montecitomac.com<\/i><\/a>.<\/i>\n<\/p>\n

Contacts<\/b> <\/p>\n

\nBrandi Meeks
\n
VP of Marketing
\n
bmeeks@montecitomac.com<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NASHVILLE, Tenn.–(BUSINESS WIRE)–Montecito Medical has completed the acquisition of a medical office property in Bethlehem, Pennsylvania. The two-story, multi-tenant St. Luke\u2019s Medical Office Building, which offers just under 20,500 square feet of space, is fully leased. \u201cWe are pleased to be entrusted with this outstanding asset and for the opportunity to build a relationship with … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-47403","6":"format-standard","7":"category-industry"},"yoast_head":"\nMontecito Adds Medical Office Property in Northeastern PA - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/montecito-adds-medical-office-property-in-northeastern-pa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Montecito Adds Medical Office Property in Northeastern PA - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"NASHVILLE, Tenn.–(BUSINESS WIRE)–Montecito Medical has completed the acquisition of a medical office property in Bethlehem, Pennsylvania. 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