CBRE Awarded 158,420 SF Knoll MOB Assignment in Columbia
CB Richard Ellis has been awarded a medical office leasing assignment totaling 367,000 square feet from Santa Barbara-based Montecito Medical Investment Corporation, including 158,420 square feet in Columbia, MD. Montecito Medical acquired the Knoll I & II Medical Suites, as well as 19 adjacent acres for development, in April 2007.
In addition to the 158,420 square foot assignment in Columbia, Montecito Medical awarded CBRE properties located in the Atlanta suburb of Cartersville and San Diego County, CA.
The 158,420 square foot Knoll I & II medical office project in Columbia will be leased by the CB Richard Ellis leasing team of Kim Penny and Laura Westervelt. The Knoll I & II projects are anchored by tenants affiliated with Johns Hopkins University Hospital.
In Cartersville, the 59,238 square foot Cartersville Physician Center medical office building will be leased by Brandon Wallace of CB Richard Ellis' Atlanta medical leasing practice group. The project is on the campus of Cartersville Medical Center.
The San Diego County properties totaling 149,810 square feet include the 30,450 square foot Hillcrest Medical Center located adjacent to Scripps Mercy Hospital in San Diego; the 70,058 square foot Valley Parkway Medical Office Building located adjacent to Palomar Medical Center in the San Diego North County submarket of Escondido; and the 49,302 square foot Escondido Medical Arts Building. CB Richard Ellis' Lars Eisenhauer will be heading the San Diego County leasing program.
According to Eric Tompkins, a San Diego-based vice president in CB Richard Ellis' Healthcare Services Group, CB Richard Ellis has steadily built its healthcare asset management practice by developing specialized medical office leasing teams in major U.S. markets.
"Our clients have recognized our efforts by awarding us with asset management assignments totaling over 40 million square feet of healthcare properties," Tompkins said. "We are especially honored to be selected by Montecito Medical to lease some of the company's projects as Montecito Medical is among the largest owners of medical office properties in the United States."
Montecito Medical Investment Company (MMIC) is one of the nation's largest privately held real estate companies specializing in the acquisition and development of hospitals, medical office buildings, surgery centers, long-term acute care facilities and skilled nursing facilities. The firm, headquartered in Santa Barbara, California, partners with medical real estate owners, enabling them to monetize their equity and improve their facilities, technology, and patient care. MMIC owns more than 35 properties in 12 states, representing more than 1.5 million square feet and in excess of $500 million in valuation.