3530 Atlantic Avenue located in Long Beach, Calif. (Photo courtesy of CBRE)
Transaction Summary
CBRE’s Investment Properties-So Cal team is pleased to announce the sale of 3530 Atlantic Avenue located in Long Beach, CA at a price of $4,055,800.The 26,039 SF medical office building was 78.5% leased to 6 tenants and traded at an in-place 4.95% cap rate and a stabilized 6.50% cap rate.
Mark Shaffer, Doug Mack, Gary Stache, and Grant Kosaki of CBRE represented the private seller in the transaction. The buyer was a private investor represented by an outside broker who is planning on occupying one of the vacant suites.
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
Gary Stache
Lic. 00773736
+1 949 725 8532
gary.stache@cbre.com
Mark Shaffer | Los Angeles
Lic. 01253743
+1 213 613 3758
mark.shaffer@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
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