Orthopaedic Associates building acquired by Nashville real estate firm

Pewaukee structure sold for $3.45 million


Nashville-based  Montecito Medical Real Estate has acquired Orthopaedic Associates of Wisconsin’s medical office building in Pewaukee from the orthopedic surgical group.

Orthopaedic Associates of Wisconsin building in Pewaukee. Photos by C&N Photography

The two-story, 71,000-square-foot facility at N15 W28300 Golf Road sold for $3.45 million, according to state records.

The building includes 31,500 square feet of clinical space, a 5,000-square-foot imaging center with an MRI, and 10,000 square feet of physical therapy space.

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The campus also houses a 24,563-square-foot ambulatory surgery center with five operating rooms and 20 prep and recovery rooms. The surgery center is a joint venture between OAW and Waukesha-based ProHealth Care.

The property has an assessed value of $5.76 million, according to Waukesha County records.

“We’re excited to partner with a leading health care provider like Orthopaedic Associates of Wisconsin, said Chris Conk, senior vice president for acquisitions and a principal of Montecito Medical. “We’re also excited about expanding our presence within the Milwaukee medical market. This transaction brings our footprint to almost 200,000 square feet of medical office space in the Milwaukee MSA.”

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The OAW practice currently has 15 orthopedic surgeons, one primary care orthopedic physician, two pain management physician specialists, two anesthesiologists and 10 physician assistants. Nearly all staff practice from the Pewaukee location. OAW also has a location in Mukwonago.

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