GROUP EXERCISES ITS RIGHT OF FIRST REFUSAL IN BUYING BUILDING FOR $20.5M
By John Mugford
The physician/tenants at the 60,000 square foot 5 Medical Plaza on the campus of Sutter Roseville Hospital in
Roseville, Calif., recently acquired the medical office building outright for a reported $20.5 million.
Photo courtesy of TRI Commercial/CORFAC International
A group of physician/tenants recently bought out the non-physician partners of a medical office building (MOB) on the campus of Sutter Roseville Medical Center, located in Roseville, Calif., a suburb of Sacramento.
The acquisition price was $20.5 million for the 60,000 square foot MOB, which works out to about $342 per square foot (PSF). The seller was an area investment group involved in the development of the facility, which was completed in 2008.
The building is fully occupied, and the 313-bed Sutter Roseville hospital owns the land under the MOB. The hospital is part of Sacramento-based Sutter Health.
According to a broker who arranged the sale and helped put the project together, the tenant/buyers were involved as minority owners in the financing of the construction and had planned to eventually acquire the building outright.
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