Marcus & Millichap Inc.
07/23/2026 | Press release | Distributed by Public on 07/23/2026 16:22
Marcus & Millichap Arranges $8.8M Sale of Cardiovascular Specialty Care Center in Covington, Louisiana
Press Releases
Marcus & Millichap Arranges $8.8M Sale of Cardiovascular Specialty Care Center in Covington, Louisiana
July 23, 2026
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COVINGTON, La., July 23, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 10,690-square-foot medical office property, occupied by Cardiovascular Specialty Care Center, in Covington, Louisiana. The property sold for $8,811,000.
"The sale of this newly constructed cardiovascular surgery center at $824 per square foot reflects the quality of the asset and the strength of the tenant," said Seth Haron, managing director investments. "Staffed by eight physicians and affiliated with US Heart & Vascular, the facility is well positioned to meet growing demand for specialized outpatient care."
Haron, Ashish Vakhariya and Darin Gross, investment specialists in Marcus & Millichap's Detroit office, in association with Steve Greer, Marcus & Millichap's Louisiana broker of record, had the exclusive listing to market the property on behalf of the seller, a group of investors/physicians affiliated with the tenant, and procured the buyer, Montecito Medical.
The newly constructed medical office property is located at 2252 Watercross Parkway. Completed in 2025, the asset is fully leased to a cardiovascular specialty practice under a long term triple-net lease and benefits from the growing Northshore region's sustained demand for outpatient and specialty healthcare services. The property will continue operating as a cardiovascular surgery center and offers expansion potential to accommodate future growth.
"The sale of this newly constructed cardiovascular surgery center at $824 per square foot reflects the quality of the asset and the strength of the tenant," said Seth Haron, managing director investments. "Staffed by eight physicians and affiliated with US Heart & Vascular, the facility is well positioned to meet growing demand for specialized outpatient care."
Haron, Ashish Vakhariya and Darin Gross, investment specialists in Marcus & Millichap's Detroit office, in association with Steve Greer, Marcus & Millichap's Louisiana broker of record, had the exclusive listing to market the property on behalf of the seller, a group of investors/physicians affiliated with the tenant, and procured the buyer, Montecito Medical.
The newly constructed medical office property is located at 2252 Watercross Parkway. Completed in 2025, the asset is fully leased to a cardiovascular specialty practice under a long term triple-net lease and benefits from the growing Northshore region's sustained demand for outpatient and specialty healthcare services. The property will continue operating as a cardiovascular surgery center and offers expansion potential to accommodate future growth.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on July 23, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 23, 2026 at 22:22 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]