Transactions: JV partnership lands MOB for $19.25 million in Claremont, Calif.

CLAREMONT, Calif. – An off-campus MOB in Claremont that is anchored by a hospital in a nearby town traded hands in recent days, fetching a price of $19.25 million, or $393 PSF. The building has 48,984 square feet of space, is 89 percent leased and anchored by nearby Pomona Valley Hospital Medical Center.

The seller, Rancho Santa Margarita, Calif.-based StoneCreek Co., which was the original developer, was represented in the transaction by Chris Bodnar and Lee Asher, co-leaders of the Healthcare Capital Markets Group with CBRE Group Inc. (NYSE: CBG).

According to the brokers, the building was completed in 2008 and is integral to the outpatient strategy of the hospital, which has a BBB rating from Standard & Poor’s and generates $1.85 billion in revenue per year throughout its multiple locations in Southern California.

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