Montecito Medical Real Estate has completed the acquisition of Ridges Pondview Medical Office Building, a high-profile medical complex in the Greater Minneapolis area.
The two-story facility is situated on the campus of M Health Fairview Ridges Hospital in Burnsville, a suburban community on the south side of the Twin Cities. The 34,224-square-foot building, which is fully leased, was built in 2005 and underwent recent capital improvements.
Tenants of the Ridges Pondview Medical Office Building include providers in neurology, kidney care and pediatrics.
Minneapolis Clinic of Neurology, which leases more than 6,800 square feet of the space, is one of the largest neurology practices in the nation. Founded in 1955, the group operates from 27 locations in the Twin Cities region. At the Ridges Pondview location, the group provides services that include adult and pediatric neurology, neuropsychology, physical therapy and neurodiagnostic testing.
DaVita Health, which operates a kidney care center at Ridges Pondview, is a global leader focused on transforming kidney health care delivery to improve the quality of life for patients. DaVita is the largest provider of kidney care services in the United States.
Southdale Pediatric Associates, which leases nearly half of the building’s office space, is a well-known market leader with two other locations around the Minneapolis area. Twenty-four of the group’s pediatricians practice at the Ridges Pondview location, which is also staffed by nurses, allergists and x-ray and lab technicians.
Fairview Ridges Hospital, on whose campus the office property is located, is a 150-bed facility offering advanced emergency, surgical, orthopedic and children’s care. In 2019, the Center for Medicare/Medicaid Services awarded Fairview Ridges a five-star rating in its “Hospital Compare” quality survey, making it one of only two hospitals in the Twin Cities area to earn this distinction.
Ridges Pondview Medical Office Building is situated in the south metro area of Minneapolis, just off Interstate 35E in Burnsville near its junction with I-35W. Located 15 minutes from downtown Minneapolis, Burnsville is a dynamic marketplace with more than 200 healthcare-related businesses and nearly 150 information technology-related businesses.
Frauenshuh Commercial Real Estate has been retained by Montecito as the local property manager and leasing agent for the building. Mike Marzinske of Encore Real Estate Investment Service represented both parties in the transaction.