Real estate trust to purchase east-side medical office building

07/31/2014 8:17 AM

07/31/2014 8:19 AM

A real estate investment trust has entered into an agreement to purchase the building that houses Primary Care Associates in east Wichita.

American Healthcare Investors and Griffin Capital Corp., both based in southern California, said in a news release that their trust, Griffin-American Healthcare REIT III, has agreed to purchase the 39,000-square-foot building at 7111 E. 21st St.

The seller of the building is Wichita MOB Fund I LLC, an American Healthcare spokesman said.

Tenants of the building include PCA, a nine-physician practice, which is the building’s largest tenant, according to the release. PCA’s lease extends through November 2027, with two 10-year options to extend the lease, the release said.

The purchase price is $8.8 million, according to a filing that the trust made with the Securities and Exchange Commission on July 24.

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