Property Address: 531 West College St., Los Angeles CA 90012
Square Footage: 90,000
Deal Value: $33 million
CBRE’s Bradford McCarthy represented the seller, the French Society, in the $33 million trade of a medical property in Downtown Los Angeles. Allied Pacific IPA represented itself. Located at 531 West College Street in the heart of Chinatown, the 90,000-square foot property is 2.5 acres and currently holds a hospital. Allied Pacific, an HMO that contracts with major health plans, physicians, hospitals, and local healthcare providers, plans to revamp the existing structure into an urgent care facility. Chinatown has evolved into a hub for restaurants, art galleries and shops as well as a popular residential neighborhood. The area is well served by transit and in proximity to Union Station and has experienced an influx of economic diversity that has buoyed its broader appeal over the past years. McCarthy is a leading broker in Los Angeles and joined CBRE in 2003. He is nationally recognized specializing in the sale of urban redevelopment properties, land for the development of mixed-use and multi-family assets, existing multi-family assets and in structuring joint venture and structured finance agreements.
Property Address: 25751 McBean Parkway, Valencia CA 91355
Square Footage: 51,800
Deal Value: $28 million
Weber and Nialis represented the seller, Rodeo Properties, LLC, a Delaware limited liability company, in the $28 million transaction. The buyer, Henry Mayo Newhall Memorial Hospital, was represented by CBRE’s Craig Peters and Robert Valenziano. Located in Valencia, the 51,800 sf medical building is fully leased on the Henry Mayo Campus. The hospital exercised their first right to purchase the building through increasing their holdings on the hospital campus.
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