CBRE’s Investment Properties-So Cal team is pleased to announce the sale of a single tenant, 100% leased DaVita located at 38454 5th Street West in Palmdale, CA. The property is leased for 15 years and sold for a record price of $6,972,000 ($507 psf), a 5% cap rate.
Gary Stache, Mark Shaffer, Doug Mack and Bryan Lewitt of CBRE represented the seller in the transaction. The buyer was a private investor from Central California in a 1031 trade represented by an outside broker.
Seller Quote:
“I would like to thank the Investment Properties-So Cal team for successfully closing on the sale of our property. You more than met our expectations and your access to the high net worth and 1031 buyer buyers is unsurpassed. Your marketing process produced a 1031 exchange buyer who paid a premium for the property. Your team’s systematic approach ensured that the property was presented in the best light, widely marketed and your transaction experience ensured an extremely smooth execution from start to finish. Thank you again for your efforts.”
– John Pollock, Chief Operations Officer, Meridian
Most of CBRE’s medical sale transactions have involved foreign and 1031 trade investors that have never owned medical office properties previously. If you would like CBRE to advise you on how to maximize the value of one of your medical assets, please give CBRE a call.
Contact Information
Gary Stache
Lic. 00773736
+1 949 725 8532
gary.stache@cbre.com
Mark Shaffer
Lic. 01253743
+1 213 613 3758
mark.shaffer@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
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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