News Release: Just Sold: Foster City Medical Pavilion

Just Closed: Foster City Medical Pavilion

Foster City Medical Pavilion in Foster City, Calif. (Photo courtesy of CBRE)

The CBRE U.S. Healthcare Capital Markets Group is pleased to announce the sale of the Foster City Medical Pavilion (the “Property”) in Foster City, California. Chris Bodnar and Lee Asher of the CBRE  U.S. Healthcare Capital Markets Group partnered with Seth McKinnon and Scott Prosser in the Northern California market to act as the Seller’s exclusive advisors.

The Property is a 39,948 square foot medical office building located on the San Francisco Peninsula. Home to a number of the nation’s wealthiest zip codes, the immediate area surrounding the Foster City Medical Center is experiencing significant new development with approximately 4.5 million square feet of office and 900 new residential units recently completed or under development. The Property is 82.1% leased to a variety of medical office users, and was recently renovated and upgraded in 2012 to include a dramatic lobby with a three-story atrium, modern finishes, new HVAC system, a new roof, new building signage, a new gurney elevator, resurfaced parking lot and refreshed landscaping. These recent renovations place the Property firmly among the limited Class A medical offices on the San Francisco Peninsula.

Sale Date: December 30, 2016

Building Size: 39,948 SF

Occupancy: 82.1%