Updated Oct 13, 2026
Chip Conk From Montecito Medical Real Estate Acquires Medical Office In Germantown For $24.5M
1325 Wolf Park Drive
$24,500,000
$724/SF
Building Size
33,800 SF
Asset Type
Medical Office
Closing
Aug 26, 2026
About this deal
AI
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.
On the Map
$24,500,000
$724/SF
Medical Office
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Players
Germantown Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93