837 S. Fair Oaks Avenue, Pasadena, CA
The 22,000 sf medical building at, one block from Huntington Hospital, has been acquired by Huntington Orthopedics Institute. The building, built in 1962, was 100% occupied on the date of close but with expiring leases in the next year, the medical group will occupy much of the building soon afterward. The sale price was $9,250,000 according to Michael Dettling of Avison Young’s Healthcare Practice who represented the Buyer in this off-market transaction. The Seller, Hollis Cotton, was represented by Bill Ukropina of Coldwell Banker.
The purchase was the second in the past 12 months near the hospital by Huntington Orthopedics Institute.
Last April, the medical group acquired the 17,000 sf medical building at 39 Congress for $10,750,000, also an off-market deal. The group is expanding this building and will occupy a portion when complete according to Dettling who brokered that purchase as well.
Contact: Michael Dettling
323.603.5087
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