Transaction Summary
CBRE’s Investment Properties-So Cal team is pleased to announce the sale of 11832-11846 Rosecrans Avenue in Norwalk, CA at a price of $5,400,000 ($284 PSF). The 18,984 SF medical office building was 100% leased for 10 years to Avanti Hospitals, a Los Angeles-based hospital system and high-quality healthcare service provider.
Gary Stache, Mark Shaffer, Doug Mack and Michael Spiezia of CBRE represented the seller, Stanton Road Capital. The buyer was in a 1031 Exchange and was represented by an outside broker.
Seller Quote
“I would like to thank your Investment Properties-So Cal team for successfully selling our medical office property. Your team crafted the marketing strategy to appeal to private capital and the 1031 buyer community. Your thorough marketing effort yielded an exchange buyer who was willing to pay a premium cap rate for our asset. We appreciate your team’s focus and coordination in executing this sale for us.”
– Tim T. Ronan, Jr | Founder/Managing Partner | Stanton Road Capital
There Is A New Market For Medical Office Buildings
Private Investors, 1031 Exchange Buyers and Foreign Investors are now driving the market and paying premiums for medical office properties. Many of the buyers have never owned medical before and are drawn to the perceived stability of the cash flow and the asset type. Our team specializes in finding these “needle in the haystack” buyers. If you would like us to advise you on how to maximize the value of one of your assets, please give us a call.
Contact Information
Mark Shaffer | Los Angeles
Lic. 01253743
+1 213 613 3758
mark.shaffer@cbre.com
Gary Stache
Lic. 00773736
+1 949 725 8532
gary.stache@cbre.com
Doug Mack
Lic. 01804065
+1 949 725 8571
doug.mack@cbre.com
Matt Pourcho | San Diego
Lic. 01705763
+1 858 546 4622
matt.pourcho@cbre.com
Michael Spiezia
Lic. 01983788
+1 949 725 8471
michael.spiezia@cbre.com
Specializing in the Sale of Office, Medical Office, and Industrial Properties in Southern California.
Since 2015, our team has sold or has in escrow 123 transactions over $1.7 Billion.
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