WOODSTOCK, GA—Montecito Medical Real Estate continued its expansion in the Atlanta area with the acquisition of Pinnacle Orthopaedics Center, a class A medical office and surgery center in Woodstock, GA, approximately 30-miles north of downtown Atlanta and part of the Atlanta metropolitan area.
“This is the second asset we've acquired in the Atlanta market in the last two months,” says Chip Conk, CEO of Montecito Medical. “Pinnacle is a fantastic addition to our growing portfolio and we look forward to growing our presence in the surrounding area.”
Built in 2010, the two-story facility is 31,764 square-feet and situated along Towne Lake Parkway, within a medical office cluster in one of the main retail corridors in Woodstock. The property was a build-to-suit for Pinnacle Orthopaedics, which anchors the building.
The facility contains Pinnacle's 10,000 square-foot accredited ambulatory surgery center with two operating rooms which allows patients to have routine, outpatient, and pain management procedures done to avoid being admitted to a hospital. In addition to the surgery center, there is an MRI suite, and a fully staffed clinic with physicians and physical therapists.
Other tenants of the building include Vascular Surgical Associates and Advanced Dental Restorations, consuming approximately 20 percent of the square footage.
Pinnacle Orthopaedics has been a dominant provider of orthopaedic services in North Atlanta for more than 50 years. The group is very involved in the community and acts as the team physician for local high schools, colleges and athletic clubs.
The practice consists of 16 physicians, 10 physician assistants, 17 physical and occupational therapists, and a host of administrative staff, and has five locations throughout North Atlanta with many of the providers on staff at WellStar Health System hospitals, most notably WellStar Kennestone Hospital 11 miles to the south.
Vascular Surgical Associates consists of 11 board certified vascular surgeons, who treat a wide range of vascular disorders. Advanced Dental Restorations is a specialty practice dedicated to restoring and enhancing each patient's smile.
CBRE's US Healthcare Capital Markets group and McWhirter Realty Partners acted as the seller's exclusive advisors.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
