Flagship Adds Virginia MOB to Portfolio

The medical office building in Fredericksburg, Va., came online in 2011. Image courtesy of Flagship Healthcare Properties

Flagship Healthcare Properties has acquired a 38,786-square-foot medical office building and ambulatory surgery center in Fredericksburg, Va., through its private real estate investment fund. SCCV Office Condominium Association sold the Class B asset, Commercial Edge data shows. Fifth Third Bank provided the acquisition financing.

The two-story facility features floorplates ranging from 18,200 to 20,586 square feet, two passenger elevators, controlled access and offers 194 car spots at a parking ratio of 5 spaces per 1,000 square feet.

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Surgi-Center of Central Virginia, an affiliate of United Surgical Partners International, anchors the property. At the time of the sale, the asset’s occupancy was at 96 percent. Other tenants include HCA Virginia – Richmond Multi-Specialty, Fredericksburg Foot & Ankle Center and Allergy & Asthma Center of Fredericksburg. The owner will provide property and asset management services.

The facility is next to Dixon Park at 1500 Dixon St., close to Interstate 95 and some 56 miles from Washington D.C and 57 miles from Richmond. The property is near the 471-bed Mary Washington Hospital and the 133-bed HCA Virginia’s Spotsylvania Regional Medical Center.

The Washington D.C Suburban Maryland market registered 15 medical office properties changing hands year-to-date through September, according to CommercialEdge data. A total of 300,334 square feet traded for $111.3 million.

Recent Washington D.C-area activity included Rethink Healthcare Real Estate receiving $50.3 million in refinancing from First Citizens Bank for Medical Pavilion at White Oak in Silver Spring, Md.