Los Angeles, CA – January 15, 202g – CBRE facilitated the sale of the West Valley Medical Portfolio, consisting of three medical outpatient buildings (MOBs) totaling 162,554-square-feet located in West Hills, California. The buildings are located adjacent to each other and are situated on approximately 7-acres of contiguous land.
Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof, Trent Jemmett and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Angie Weber and Dana Nialis of CBRE’s Southern California Healthcare Advisory and Transaction team to act as the exclusive advisors to the seller.
The three institutional-quality MOBs are located adjacent to UCLA West Valley Medical Center, which UCLA Health acquired in March of 2024. The hospital is about 21-miles northwest of UCLA’s main campus in Westwood and includes 260-beds with seven operating rooms and a free-standing ambulatory surgery center on 14 acres.
“This portfolio represents approximately half of the total medical outpatient building supply on the campus,” said Chris Bodnar, CBRE’s Vice Chairman of the U.S. Healthcare Capital Markets practice.
“These assets are incredibly well positioned and are strategic to the overall delivery of care provided to patients in the region.”
Ideally located outside of Calabasas, residents within a one-mile radius of the properties feature an average household income of $166,000 and an over 65-year-old population that is 36% higher than the Los Angeles metropolitan area. Significant capital improvements and professional maintenance by the seller led to an overall occupancy rate of 94.1% and a tenant roster that includes UCLA Health, Optum, Providence Health & Services, City of Hope, Select Medical, and LabCorp.
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 2023 revenue). The company has more than 130,000
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management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales;
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