Two Richmond-area medical office buildings are sold
- November 29, 2018
Lingerfelt Commonwealth Partners LLC has sold two Richmond-area medical office buildings to Montecito Medical Real Estate in Nashville, Tenn.
The sale involved the OrthoVirginia Boulders and OrthoVirginia MRMC buildings. Financial details of the sale were not disclosed.
The OrthoVirginia Boulders Building, at 1115 Boulders Parkway in Richmond, is a 70,000 square-foot medical facility developed by Lingerfelt in 2011. It is occupied by OrthoVirginia and HCA Health System.
The OrthoVirginia MRMC Building is at the Memorial Regional Medical Center, 8200 Meadowbridge Road, in Mechanicsville. It is a 63,000 square-foot medical facility developed by Lingerfelt in 2015. The building is occupied by Bon Secours and OrthoVirginia.
Lingerfelt Commonwealth partnered with OrthoVirginia, an orthopedic group, in the design, development and ownership of both facilities.
Commonwealth Commercial Partners, Lingerfelt's property management affiliate, will continue to handle all aspects of the day-to-day property management.
Based in Richmond, Lingerfelt is a real estate investment management firm with 12 offices. The firm has built, acquired and managed nearly 20 million square feet of commercial real estate valued at about $2 billion in the mid-Atlantic and Southeast.