29878 Haun Road / Menifee, Ca
CBRE’s Investment Properties-SoCal/Phoenix/Vegas team is pleased to announce the sale of 29878 Haun Road in Menifee, California at a price of $5,725,000 ($625/PSF). The single-tenant medical office building had 5-years left on the lease to DaVita Dialysis, the nation’s largest dialysis service provider.
Sammy Cemo, Gary Stache, Anthony DeLorenzo, and Doug Mack of CBRE represented the seller, a private investor. The Northern California based buyer, Kniesche Family LLC, was in a 1031 Exchange. The growth of Southwest Riverside County and demand for single-tenant medical offerings helped generate immediate interest in the offering. With multiple offers shortly after hitting the market, the transaction closed at a 5.8% cap, only 5 bps off asking.
Several of our recent transactions were conducted within a competitive bidding environment, resulting in strong investor interest and multiple offers from different channels. If you would like us to advise you on how to maximize the value of one of your assets, please give us a call.
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Specializing in the sale of Office, Medical Office, and Industrial properties in Southern California.
Since 2015, our team has sold 265 transactions valued in excess of $3.74 billion.
CAPITAL MARKETS | INVESTMENT PROPERTIES
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