Last week the Kennebec Journal reported that a Dirigo Capital Advisors project, Lot 18, LLC, has been sold to an out of state company. The project, which enabled the construction in 2011 of the building that houses MaineGeneral’s Musculoskeletal Center at 15 Enterprise Drive in Augusta, is one of the city’s most visible commercial real estate success stories, situated as it is right along Route 27 with very close access to I-95. It’s a success story not just for the “Class A” building itself, but because of the national reputation that the facility has drawn to Augusta.
“The building was bought by Montecito Medical Operating Company, a national powerhouse specializing in the management, acquisition and development of hospitals and medical office building. Augusta is clearly on the map now with a national reputation in world-class healthcare facilities,” said Kevin Mattson, president of Dirigo Capital Advisors.
Additionally, as the KJ article explains, Montecito’s arrival in town will have a very positive ripple effect here in Augusta. Dirigo Capital Advisors can now devote a lot more time, energy and resources to redeveloping MaineGeneral’s former hospital campus in the city East Chestnut Street neighborhood, the “Augusta East” project.
“This I great news all around. Great timing, and great karma for continuing Augusta’s very strong redevelopment momentum,” Mattson said.