Chip Conk Of Montecito Medical Real Estate Acquires Medical Office In Fort Walton Beach For $23.4M

The transaction involved a medical office asset located at 1034 Mar Walt Drive in Fort Walton Beach, with a total sale price of $23,400,000. The property spans 46,992 square feet and was sold at a price per square foot of $498. The asset was fully leased to Orthopaedic Associates and Surgical Specialists ASC.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $23,400,000
• Address: 1034 Mar Walt Drive
• Market: Fort Walton Beach
• Square Footage: 46,992
• Price per Square Foot: $498
• Buyer: Chip Conk - Montecito Medical Real Estate
• Seller: Emerald Coast Diversified Properties LLC
• Brokers: Alex Sacks, Brett Rodgers, Frank Roti & Ryan Nee - Marcus & Millichap

Marcus & Millichap facilitated the sale, which amounted to a total of $25.4 million for the medical office asset. The property transaction showcased significant involvement from the brokerage team, ensuring a smooth transition between the buyer and seller.