JOHNSON CITY, TN– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of 701 Med Tech Parkway (top left photo), a 60,600-square foot, four-story multi-tenant medical office building in Johnson City. Anthony Lunceford, an office and industrial property specialist in the firm’s Nashville office represented the sellers. Joseph Massa (lower right photo), a senior associate, also in Nashville, represented the buyer, a regional private equity firm located in the Southeast.
“701 Med Tech Park was built in 2008 and is anchored by the East Tennessee Ambulatory Surgical Center (ETASC),” says Lunceford. “ETASC signed an initial 25-year lease with 15 percent escalations every five years.”
The other tenants in the building are East Tennessee Brain & Spine and John Lawson Surgical.
The property, located at 701 Med Tech Parkway in the Med Tech Park corridor, is next to the brand-new Franklin Woods Community Hospital and is less than 2.5 miles from the Johnson City Medical Center.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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