CBRE Announces Sale of Medical Office in Pomona, Calif. to PARAS Properties for $6.85 Million
09 1月 2020
The triple net building is 100 percent occupied with two long-term tenants
Los Angeles – CBRE announced the sale of a 22,055 square-foot medical office building in Pomona, Calif. to PARAS Properties LLC, a private investor, for $6.85 million.
CBRE’s Mark Shaffer, Anthony DeLorenzo, Gary Stache, Gerard Poutier, Adam Peterson, Doug Mack and Bryan Johnson represented the seller, Kothari Property Group, in the transaction.
Located at 790 E. Bonita Ave, the two-story property is currently fully leased by Chaparral Medical Group and Pacific Clinics. The modern, low-rise office building sits on a corner lot with prominent frontage and high visibility at the intersection of North Towne Avenue at East Bonita with approximately 29,000 cars passing through daily.
“Future certainty and the stability of this property’s income stream is bolstered by its longstanding tenancy with occupancy in its 24th year,” said Shaffer. “This truly is an irreplaceable medical facility with unmatched access to two nearby hospital systems. This location has a built-in and growing patient base.”
Pomona has a scarcity of ‘mid-block’ medical offices while two major hospitals drive regional healthcare demand in the market, including Pomona Valley Medical Hospital Center and San Antonio Regional Hospital.
“Real estate fundamentals within this area, consisting of Eastern San Gabriel Valley and West San Bernardino, are strong, with a direct office vacancy of 6.8 percent as of the third quarter, with direct medical office vacany being even tighter, at 6.1 percent,” said Shaffer.
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 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.