Downtown L.A. commercial real estate giant CBRE Group Inc. announced Nov. 8 it sold a medical office building in Whittier for $5.5 million to an undisclosed private buyer.
The 21,840 square-foot medical complex at 12444-12472 Washington Boulevard is a fully leased multi-tenant medical office building across from Presbyterian Intercommunity Hospital and within eight miles of 17 other hospitals.
Agents Anthony DeLorenzo, Gary Stache, Mark Shaffer, Thomas Adelson and Doug Mack of the CBRE Investment Properties-SoCal team represented the undisclosed seller.
“Given the ease of access to surrounding hospitals and steady patient referral stream, this asset is in the perfect location,” Shaffer said in a statement. “The new owner will face minimal near-term supply risk given Whittier’s strict ordinances on new development, lack of available raw land and high barriers to entry.”
CBRE’s SoCal team, which specializes in the sale of office, medical office and industrial properties, has closed 184 deals since 2015 valued at more than $2.6 billion, according to the company.
CBRE ranked No. 1 on a Business Journal list in September of the largest commercial real estate brokerage firms ranked by L.A. County sales and leases in 2017, with deals valued at $13.1 billion.
Health business reporter Dana Bartholomew can be reached at email@example.com. Follow him on Twitter @_DanaBart.