Transactions: Marcus & Millichap brokers $9 million sale of Los Angeles MOB to undisclosed buyer

LOS ANGELES – An unnamed private investor recently acquired a three-story, 42,729 square foot MOB in the Granada Hills neighborhood of Los Angeles for $9 million, or $211 PSF.

Representing the seller, Los Angeles-based Jamison Services Inc., was John R. Smelter, a senior director of Marcus & Millichap’s National Healthcare Real Estate Group from the firm’s San Diego office.

Robert Johnston, a senior associate in Marcus & Millichap’s Palo Alto, Calif., office, represented the buyer.

The building at 10515 Balboa Blvd. is on a major thoroughfare in the eastern San Fernando Valley.  The three-story MOB was constructed in 1983 on a 1.4-acre site.

In a statement, Mr. Smelter noted: “Improving property operations and expectations for surging healthcare demand continue to draw investors to the medical office sector.”

Mr. Johnson added that the building should benefit from growing demand for healthcare services in the Los Angeles market.

The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE

Existing Users Log In

Comments are closed, but trackbacks and pingbacks are open.