Montecito Medical Real Estate recently acquired the medical office portfolio of the Penn Medicine/Lancaster General Health, which includes two adjacent buildings in Lancaster, Penn.
The Class-A medical offices were constructed in 1993 and 2009, respectively, and include a combined total of 41,322 square feet.
“We are very excited to partner with such a prestigious name in healthcare in Pennsylvania,” Chip Conk, CEO of Montecito, said. “We believe that this transaction reflects a recognition by Lancaster General Health of the advantages that our company can bring to the health system and to practicing physicians.”
Lancaster General Health currently leases 10 percent of one of the buildings where it runs an outpatient surgery center dedicated to pain management and provides family medicine, physical therapy, lab testing, EKG and x-ray services. Lancaster General Hospital offers physical therapy services at the second building.
Lancaster Neuroscience leases approximately 90 percent of the space in the first building and 40 percent of the second building where it operates a NeuroSpine Center and performs outpatient surgical procedures.
Other tenants of the second building include Lancaster Family Allergy and the MRI Group, which provides MRI and CT imaging.
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