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| Medical Office at 10515 Balboa Boulevard in Granada Hills neighborhood of Los Angeles, CA |
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| John Smelter |
LOS ANGELES, CA– Marcus & Millichap Real Estate
Investment Services, the nation’s largest real estate investment services firm,
has arranged the sale of a 42,729-square-foot medical office property located
in the Granada Hills neighborhood of Los Angeles. The $9 million sales price
equates to $211 per square foot.
John
Smelter, a senior director of Marcus & Millichap’s National Healthcare
Real Estate Group in the firm’s San Diego office, represented the seller,
Jamison Services Inc.
Robert Johnston,
a senior associate in Marcus & Millichap’s Palo Alto office, represented
the buyer, a private investor.
“Improving property operations and expectations for surging healthcare
demand continue to draw investors to the medical office sector,” says Smelter.
“The
property is a stabilized asset that is well positioned for future growth in a
thriving Los Angeles submarket,” adds Johnston.
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| Robert Johnston |
The
building is located at 10515 Balboa Blvd. in the eastern San Fernando
Valley community of Granada Hills.
Balboa Boulevard is a major thoroughfare serving Granada
Hills and Greater Los Angeles. Interstate 5, Interstate 405 and California
State Route 118 provide accessibility to the office building from all
directions.
The
three-story medical building was constructed in 1983 on approximately 1.4
acres.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations
Manager
(925) 953-1716
