Los Angeles, CA | December 21, 2020
Los Angeles – CBRE announced the sale of a 16,723-square-foot retail building in Harbor City, Calif. to Kaiser Permanente for $9.4 million in an all-cash transaction.
CBRE’s Jamie Brooks and Roy Gaut represented the seller, a private family office, in the transaction. Kaiser Permanente was represented by Jones Lang La Salle’s Chris Isola and Amberly Washington.
Located at 1205-1207 Pacific Coast Highway, the property – a former drug store – is located across the street from Kaiser Permanente South Bay Medical Center.
“The property is situated in a densely populated trade area with excellent visibility along the Pacific Coast Highway at Normandie Avenue,” said Brooks. “Kaiser recognized this as a strategic opportunity to compliment and expand their health care services in the submarket due to the property’s proximity to the Kaiser medical campus across the street.”
Demographic and health-care industry trends are firmly entrenched and forecast to persist, supporting long-term demand for medical space, according to CBRE research.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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