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| 2767 East Imperial Highway, an 89,650-square-foot, single-tenant, net-leased medical office property in Brea, CA |
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| Nick Foster |
NEWPORT BEACH, CA – JLL announced it has closed the sale of 2767 East Imperial Highway, an 89,650-square-foot, single-tenant, net-lease medical office property in the Orange County community of Brea, California.
JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute, and procured the buyer, LaSalle Investment Management, through their medical office fund.
2767 East Imperial Highway is fully leased to St. Jude Hospital for 14 remaining years. St. Jude is a network hospital of Providence St. Joseph Health (S&P: AA-).
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| Andrew Milne |
The two-story property is positioned on 5.08 acres with frontage and visibility from Imperial Highway as well as convenient access to the 57 Freeway, one of Orange County’s most important north-south arterials.
The property is the largest standalone physical rehabilitation center in Southern California with proximity to St. Jude Hospital in Fullerton, California.
The JLL Capital Markets team representing the seller included Nick Foster, who is part of the Net Lease Practice Group; Evan Kovac and Andrew Milne from the National Healthcare Capital Markets Team and Andrew Harper from the Los Angeles office investment advisory team.
Additionally, John Chun, who is a member of the National Healthcare Capital Markets Team, advised from a debt and structured finance perspective.
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| Andrew Harper |
“JLL was fortunate enough to take this opportunity full circle for ownership, financing the original acquisition and then listing the asset after ownership was able to negotiate a long-term extension for the tenant,” Foster said.
“We were extremely pleased with the level of interest in the opportunity, receiving twelve competitive offers. Ultimately, we had the good fortune of selecting an excellent new owner in LaSalle, who performed flawlessly.”
Jones Lang LaSalle Americas, Inc. is a licensed real estate broker with the California Department of Real Estate license #01223413.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
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| John Chun |
Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. HFF is now part of JLL. Real estate brokerage services now provided by Jones Lang LaSalle Americas, Inc.
Contacts:
Nick Foster, JLL Director
California License No: 01831851
Phone: +1 949 253 8800
Email: Nicholas.Foster@am.jll.com
Evan Kovac, JLL Managing Director
California License No: 01750736
Phone: +1 206 576 0033
Email: Evan.Kovac@am.jll.com
Andrew Milne, JLL Director
California License No: 01868031
Phone: +1 858 552 7690
Email: Andrew.Milne@am.jll.com
Andrew Harper, JLL Managing Director
California License No: 01319640
Phone: +1 310 407 2100
Email: Andrew.Harper@am.jll.com
Kristen Murphy, JLL Director, Public Relations
Phone: +1 617 338 0990
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