Investment Summary
| Offering Price | $11,975,000 |
| Occupancy | 97% |
| Gross Building Area | ±26,803 RSF |
| Land Area | ±0.36 Acres |
| Stories | Three (3) |
| Parking | ±136 Stalls (4 Level Subterranean) |
Investment Highlights
- Ideally situated in an established mature infill medical office market with limited new competing product, low market vacancy and strong medical office market fundamentals, the asset has maintained nearly 100% occupancy since stabilization in late 2013.
- Currently 97% occupied with thirteen tenants containing an average remaining lease term of three years, investors will benefit from near term stability and long term upside potential through increasing in-place leases that are approximately 18% below market.
- Future Upside Through Projected Rent Growth – Class A market rents are still 28% below peak rents of $50.15 FSG, suggesting there is ample room to add value through future rent growth, above and beyond the fact that existing rent is 18% below market.
- Just ½ mile from USC Verdugo Hills Hospital, this high image building was thoughtfully designed with concrete, steel, and glass as well as four subterranean levels of parking to serve discerning medical tenants who appreciate prominent signage opportunities and outdoor balconies with sweeping views.
- Established Medical Office Market with Strong Fundamentals – Within a 4 mile radius of the property there are 39 Class A and B medical office buildings comprising 1,684,172 SF with an extremely low vacancy rate of 7.2%.
- Excellent Medical Office Demographics – Within 3 miles of 83,568 people with an average household income of $132,506. 84.67% of this population has access to medical care through government or private programs, the majority of which is commercially insured.
- Priced at $11,975,000 ($447 PSF), the asset is offered at significantly below the estimated replacement cost of $15,879,000 ($592 PSF).
Contact Us
Mark Shaffer
Lic. 01253743
+1 213 613 3758
mark.shaffer@cbre.com
Anthony DeLorenzo
Lic. 01706686
+1 949 725 8425
anthony.delorenzo@cbre.com
Gary Stache
Lic. 00773736
+1 949 725 8532
gary.stache@cbre.com
Doug Mack
Lic. 01804065
+ 1 949 725 8571
doug.mack@cbre.com
Nick Svenden
Lic. 01940653
+ 1 949 725 8471
nicholas.svendsen@cbre.com
Matt Pourcho – San Diego
Lic. 01705763
+1 858 546 4622
matt.pourcho@cbre.com
Specializing in the Sale of Low Rise Office and Industrial Properties in Southern California
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