Loma Linda University Health
Park Plaza MOB
1776,1782 and 1790 W Park Avenue Redlands, CA
JUST SOLD
CBRE’s Investment Properties-SoCal/Phoenix/Vegas team is pleased to announce the sale of Park Plaza, located at 1776,1782 and 1790 W Park Avenue in Riverside, California, for $18.3 million ($343 PSF). The Property totals 53,325 square feet across three outpatient medical office buildings, with 99 percent of the space leased to Loma Linda University Health Care, a major academic medical center that operates 1,077 beds across six hospitals. Loma Linda utilizes the buildings for a variety of specialty practices including their Behavioral Medical Center program.
Anthony DeLorenzo, Gary Stache, Sammy Cemo and Doug Mack, in partnership with CBRE’s U.S. Healthcare and Life Sciences Capital Markets’ Chris Bodnar, Lee Asher, Ryan Lindsley and Jordan Selbiger, represent the seller, Rancho Santa Margarita-based Cypress West Partners.
“Real estate investors continue to flock to defensive positions during these turbulent times, and healthcare real estate has proven its resiliency during both the financial crisis of 2008 and the COVID-19 pandemic,” said Bodnar. DeLorenzo added, “Loma Linda has a long-standing reputation for innovation since 1905. Net-leased properties with strong tenancy and term have seen incredible demand since the start of the COVID-19 pandemic.”
Our team, built with a market-leading database and led by an integrated team of experts across nine Western U.S. markets, provides investors with an unrivaled advantage. Our clients have access to a best-in-class marketing platform, local market expertise in any U.S. market, and a dedicated team of financial analysis, due diligence and transaction professionals at their discretion.
To date, we continue to observe strong transaction activities despite COVID headwinds. If you would like us to advise you on your next acquisition, please give us a call.
Don’t miss out on the next investment opportunity.
Gary Stache
Lic. 007773736
+1 949 725 8532
gary.stache@cbre.com
Sammy Cemo
Lic. 01958704
+1 949 418 2043
sammy.cemo@cbre.com
Anthony DeLorenzo
Lic. 0706686
+1 949 725 8425
anthony.delorenzo@cbre.com
Doug Mack
Lic. 1804056
+1 949 725 8571
doug.mack@cbre.com
Bryan Johnson
Lic. 02018612
+1 949 809 3762
bryan.johnson@cbre.com
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Specializing in the sale of Office, Medical Office, and Industrial properties in California, Arizona and Nevada.
IN 2020, OUR TEAM SOLD 77 PROPERTIES TOTALING OVER $1.1 BILLION.
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