The Offering
CBRE’s LA Investment Properties Group and U.S. Healthcare Capital Markets Group are pleased to exclusively offer for sale the fee simple interest in West Valley Medical Square, a Class A property anchored by Walgreens, including two medical office buildings and a freestanding Yogurtland store. The project offers a true value-add opportunity as well as surety of income from the 75 year Walgreens lease and a freestanding, high performing Yogurtland store. West Valley Medical Center is located close to Providence Tarzana Medical Center, which is one of the premier medical centers in the northern Los Angeles area.
Investment Highlights
- Asking Price: Unpriced
- Ability to grow medical office building 8,584 sf per BOMA
- Walgreens anchored medical project
- Yogurtland in percentage rent with strong performance
- Near multiple hospitals
- Large space can be made available for merging medical practices
- High visibility at major San Fernando Valley intersection of Tampa Ave and Victory Blvd
- 75 year Walgreens lease anchoring medical project
- Excellent upside with medical office building 19% below anticipated market rent
- Free of existing debt allows access to attractive current debt opportunities
- Ability to separately parcel the retail from the medical
- Offering Price: Unpriced
Building Size | Medical Office | 63,464 SF |
Per BOMA | 72,048 SF | |
Walgreens | 13,000 SF | |
Yogurtland | 1,200 SF | |
Total Per Leases | 77,664 SF | |
Total Per BOMA | 86,248 SF | |
Year Built/Renovated | Medical Office | 1968/2009 |
Walgreens | 2009 | |
Yogurtland | 2010 | |
Occupancy | 76% | |
Year 1 NOI | Medical Office | $495,264 |
Walgreens | $591,115 | |
Yogurtland | $81,046 | |
Total | $1,169,375 | |
Pro Forma 2019 NOI: | Medical Office | $965,435 |
Walgreens | $591,301 | |
Yogurtland | $82,394 | |
Total | $1,641,080 |
Contact Information
Investment Properties
Mark Perry
Lic. 00783875
+1 818 907 4643
mark.perry@cbre.com
Carlene O’Neil
Lic. 01099744
+1 818 907 4725
carlene.oneil@cbre.com
Net Lease Property Group
Sterling Champ
Lic. 01325158
+1 818 502 6769
sterling.champ@cbre.com
U.S. Healthcare Capital Markets Group
Chris Bodnar
Lic. 01892501
+1 303 628 1711
chris.bodnar@cbre.com
Lee Asher
+1 404 504 5965
lee.asher@cbre.com
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