When JHR Development decided to sell their medical office buildings in Bath and Brunswick, they called Drew Sigfridson, SIOR of CBRE | The Boulos Company; JHR had decided it was time to sell these assets and redeploy the capital into other new development construction projects in southern Maine. JHR has a history of developing high-quality buildings throughout Maine and the Class A medical office building constructed for Mid Coast Hospital at 108 Centre Street in Bath is a first class asset. “We had significant demand for these medical office buildings and ultimately had multiple offers on the property in Bath,” added Sigfridson.
This past week, MMAC Acquisition Corporation purchased 108 Centre Street in Bath from JHR Development of Maine, LLC. The buyer, d/b/a Montecito Medical, has a national focus of owning and managing medical office buildings throughout the country. They are very excited to own another property in Maine and Mid Coast Hospital’s lease ensures that they will be in this downtown location serving the Bath region for many years to come. “At JHR Development we care deeply about our long-standing relationship with the Mid Coast Hospital organization and we are confident they will be in great hands with MMAC,” Hilary Rockett, President, JHR Development.
The transaction was arranged on behalf of the seller by Drew Sigfridson, SIOR and on behalf of the buyer by Dan Greenstein.