Montecito Medical Grows Kansas City Footprint

Discover Vision Centers sold the six-building portfolio.

11500 Granada St., Leawood, Kan.

Montecito Medical has acquired a portfolio of six medical office buildings in Greater Kansas City, Kan., in a sale-leaseback transaction. Discover Vision Centers sold the assets totaling 95,769 square feet and will remain their anchor tenant. ERE Healthcare Real Estate Advisors CEO & Managing Director Collin Hart and Director Marc Flynn represented the seller.

With this deal, Montecito expanded its Kansas City-area portfolio that also includes medical office buildings in Lee’s Summit, Mo., and Harrisonville, Mo.

The Discover Vision facilities have an average size of roughly 20,000 square feet and can be found at the following locations:

  • 11010 Haskell Ave., Kansas City, Kan.
  • 15710 W. 135th St., Olathe, Kan.
  • 11500 Granada St., Leawood, Kan.
  • 4741 S. Cochise Drive, Independence, Mo.
  • 1018 W. Foxwood Dr., Raymore, Mo.
  • 211 NW Highway 7, Blue Springs, Mo.

The laser vision correction centers provide a full range of medical services, including routine eye care, laser vision correction, diabetic eye care, advanced cataract surgery and retinal surgery.

Montecito’s health-care portfolio

Since 2006, Montecito Medical has acquired medical office properties in 35 states across the U.S., valued at more than $5.1 billion.

Last year in August, Montecito expanded its Florida footprint with the acquisition of a 37,000-square-foot medical office building in Lithia. Rubin Real Estate Advisors sold the asset for $20 million.

A more recent transaction closed early this year, when the company sold a 13-property portfolio to a partnership between Remedy Medical Properties and Kayne Anderson Real Estate. The assets, located in eight states, traded for $131 million.

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