Chip Conk From Montecito Medical Real Estate Acquires Medical Office In Germantown For $24.5M

The property asset involved in the transaction is a medical office building located at 1325 Wolf Park Drive in Germantown, TN. The property spans 4.6 acres and features a total of 33,800 square feet. It was sold for a transaction amount of $24,500,000, with a price per square foot of $725.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $24,500,000
• Address: 1325 Wolf Park Drive
• Market: Germantown, TN
• Asset Size: 4.6 acres
• Total Square Footage: 33,800
• Price per Square Foot: $725
• Buyer: Chip Conk - Montecito Medical Real Estate
• Seller: Wolf River Realty LLC
• Brokers: Spencer Koch, Chris Biuso & Jody McKibben - Marcus & Millichap

Montecito Medical acquired the property, which is fully leased and includes the Conrad Pearson Clinic medical office building. The seller, Wolf River Realty LLC, is an affiliate of the Conrad Pearson Clinic, and Marcus & Millichap represented the seller while procuring the buyer for this transaction.