West Creek Medical Office Building
Realized The West Creek Medical Office Building (West Creek MOB) is a 69,782 square-foot, 3-story, class-A medical office building located in West Creek Medical Park in Goochland County, VA. West Creek MOB held its initial land acquisition closing on December 20, 2013 in a joint venture with a Washington, DC-based family office. LCP initially acquired the 6 acres on which the building was constructed. The West Creek MOB building is the first of three medical office buildings that are planned for West Creek Medical Park.
Investment Info
- Status: Realized
- Market: Richmond, VA
- Property Type:
Medical/Life-Science - Square Footage: 69,782
- Lingerfelt Role: General Partner
- Strategy: Development
- Sub-Strategy: Speculative, Lease-Up
Investment Metrics
- Entry Date: December 30, 2013
- Purchase Price: $1,203,200
- Total Capitalization: $20,400,000
- Exit Date: December 06, 2019
- Exit Price: $26,500,000
- Hold Period: 6 Years
