Investment Summary
CBRE, Inc., as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 10800 Paramount Boulevard (the “Property”). The ±33,782 square foot, four-story, recently renovated, high quality medical office building is situated on ±1.38 acres of land. The Property is 65% occupied with fourteen tenants and an average remaining lease term of three years which provides investors with stability in the near term and long term upside potential by leasing up the vacant space. A user could occupy from +/- 17,737 to +/- 20,215 square feet in 2016. The Property benefits from a rapidly growing, densely populated patient base with high procedure volumes.
| Offering Price | $7,700,000 |
| Building Size | ±33,782 SF |
Investment Highlights
- High Quality Medical Office Building with Stable Cash Flow and Upside Potential
- Recent upgrades and building renovation make this one of the highest quality interior build-outs in the market. The property is being offered free and clear of existing debt allowing purchasers to place on new debt at historically attractive rates.
- Synergistic tenant mix with variety of specialties and a Pharmacy on the first floor. The Property houses fourteen tenants with suites ranging from 840 to 4,230 square feet.
- Strong Medical Office Market Fundamentals with Dense Patient Population
- The overall medical office vacancy is 7.1% in the 1,991,008 SF, 180 building competitive set within 5 miles of the property and has averaged an extremely low rate of 6.1% over the last 10 years. The limited supply of class B medical office in the market will lead to shorter lease up time for vacant spaces and future rental increases.
- Priced at $7,700,000 ($228 PSF), the Asset is Offered Significantly Below the Estimated Replacement Cost of $10,361,000 ($307 PSF)
Click to Download Offering Memorandum
Contact Information
Gary Stache
Lic. 00773736
+1 949 725 8500
gary.stache@cbre.com
Doug Mack
Lic. 01804065
+ 1 949 725 8571
doug.mack@cbre.com
Nicholas Svendsen
Lic. 01940653
+ 1 949 725 8471
nicholas.svendsen@cbre.com
Los Angeles
Mark Shaffer
Lic. 01253743
+1 213 613 3758
mark.shaffer@cbre.com
San Diego
Matt Pourcho
Lic. 01705763
+1 858 546 4622
matt.pourcho@cbre.com
Specializing in the Sale of Low Rise Office and Industrial Properties in Southern California
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