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2022 Commercial Real Estate Awards: Best Medical Sale of the Year

Vital Statistics
Property Address: 150 North Robertson, Beverly Hills
Square Footage: 67,510
Deal Value: $81.5 million

Newmark arranged the $81.5 million sale of a three-story medical office building located at 150 North Robertson in Beverly Hills. Also known as the Beverly Hills Medical Plaza, the property is comprised of 67,510 square feet of Class A space and is leased to a diverse roster of esteemed physicians as well as other high-profile medical tenants.
Newmark co-head of U.S. capital markets Kevin Shannon, executive managing directors Rob Hannan, Ken White and senior managing director Laura Stumm represented the seller, a private family office. Newmark senior managing director Steven Salas also participated in the sale and will lease the asset on behalf of the buyer, a partnership between Morgan Stanley and Meridian Property Company. As a testament to the rare opportunity to acquire a premier medical office property in Beverly Hills, the seller had owned the property since they developed it in 1989.
The Gensler-designed asset strikes a commanding landmark presence along Robertson Boulevard with its almost one-acre site. The property features an extremely rare and highly desirable porte-cochere, the only of its kind among Beverly Hills medical buildings, which allows immediate patient building access and sits above three levels of subterranean parking.

 

Vital Statistics
Property Address: 9033 Wilshire, Beverly Hills
Square Footage: 49,721
Deal Value: $74.4 million

Newmark arranged the $74.4 million sale of a five-story medical office building located at 9033 Wilshire in Beverly Hills. Totaling 49,721 square feet of Class A space, the property is anchored by USC’s Keck Medical Center. Newmark co-head of U.S. capital markets Kevin Shannon, executive managing directors Rob Hannan, Ken White and senior managing director Laura Stumm represented the seller, UBS Realty Investors. Senior managing director Steven Salas of Newmark also assisted with the sale. The buyer was LaSalle Investment Management. The state-of-the-art property features a world-class surgery center, a full-service pharmacy offering drug compounding, unique art installations, valet parking with call-down service and a rooftop deck.

 

Vital Statistics
Property Address: 2317-2333 Foothill Boulevard, La Verne
Square Footage: 39,400
Deal Value: $24.6 million

CBRE facilitated the sale of the Pomona Valley Health Center in La Verne to MMRE Acquisitions LLC. Chris Bodnar, Lee Asher, Ryan Lindsley and Jordan Selbiger with CBRE U.S. Healthcare and Life Sciences Capital Markets teamed with Anthony DeLorenzo and Mark Shaffer with CBRE Capital Markets to represent seller La Verne Venture I LLC. StoneCreek obtained medical land use approvals from the city, renovated the property, secured PVHMC as the anchor tenant and filled the rest of the center with complimentary healthcare and retail uses prior to sale.

 

Return to the 2022 Commercial Real Estate Awards Recap page

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