Transaction Summary
CBRE’s Investment Properties SoCal team is pleased to announce the sale of 2690 Pacific Ave located in Long Beach, CA at a price of $6,575,000 ($250 / SF). The 26,293 SF medical office building was 91% leased to 8 tenants and is located adjacent to the renowned Long Beach Memorial Medical Center.
Gary Stache, Anthony DeLorenzo, Mark Shaffer, Chris Isola, and Doug Mack of CBRE represented the private seller in the transaction. The buyer was Planned Parenthood Los Angeles.
Seller Quote
“Thank your team for another job well done. One thing that separates your team is that you always respond to phone calls quickly. You are always available and listen. Whenever issues arise you are there with solutions.
The team puts whatever efforts needed to get the deal done. They always outperformed with all of the listings that we have given them. That’s why we only go to this them.
We appreciate your efforts and dedication to our company and are looking forward to working with you again soon.” – Davis Harouni
There Is A New Market For Medical Office Buildings
Private Investors, 1031 Exchange Buyers and Foreign Investors are now driving the market and paying premiums for medical office properties. Many of the buyers have never owned medical before and are drawn to the perceived stability of the cash flow and the asset type. Our team specializes in finding these “needle in the haystack” buyers. If you would like us to advise you on how to maximize the value of one of your assets, please give us a call.
Contact Us
Mark Shaffer | Los Angeles
Lic. 01253743
+1 213 613 3758
mark.shaffer@cbre.com
Gary Stache
Lic. 00773736
+1 949 725 8532
gary.stache@cbre.com
Anthony Delorenzo
Lic. 01706686
+ 1 949 725 8425
anthony.delorenzo@cbre.com
Doug Mack
Lic. 01804065
+1 949 725 8571
doug.mack@cbre.com
Matt Pourcho | San Diego
Lic. 01705763
+1 858 546 4622
matt.pourcho@cbre.com
Michael Spiezia
Lic. 01983788
+1 949 725 8471
michael.spiezia@cbre.com
Specializing in the Sale of Office, Medical Office, and Industrial Properties in Southern California.
Since 2015, our team has sold or has in escrow 123 transactions over $1.7 Billion.
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