UCLA Well being has renewed its 22,224-square-foot medical workplace lease at 2825 Santa Monica Blvd. in Santa Monica, Calif. JLL and Anchor Well being Properties labored on behalf of the proprietor, Harrison Avenue Actual Property Capital, whereas an in-house staff represented the tenant.
The 54,930-square-foot medical facility has been below the present possession since 2022, when the corporate acquired it from The Carlyle Group for $58.6 million, in keeping with CommercialEdge info.
The medical workplace constructing sector is about for a thriving 12 months as a result of low emptiness charges, secure long-term tenants and a gradual demand from the growing old Child Boomer inhabitants. Pushed by these elements, the sector can also be anticipated to expertise a 26 p.c enhance in quantity over the subsequent decade, in keeping with a Savills report.
A Los Angeles-area medical outpatient facility
The constructing is close to interstates 10 and 405, in addition to some 15 miles from downtown Los Angeles. Different medical suppliers within the space are Windfall Saint John’s Well being Middle and Pacific Ocean Pediatrics. UCLA Santa Monica Medical Middle can also be 1 mile away.
Accomplished in 1983, the three-story property at the moment serves as a analysis laboratory and medical workplace area for UCLA Well being Jonsson Complete Most cancers Middle. Different tenants on the facility embody Meta Well being, Pinnacle Egg Financial institution and Pinnacle Surrogacy, Integrative Endodontics, Meridien Dental and Orthodontic Middle of Santa Monica, the identical supply reveals.
JLL Managing Administrators Bryan Lewitt and Monica Enes, along with Government Vice President Chris Isola, represented the owner, alongside Anchor Well being Properties as third-party asset administration. In-house Senior Leasing Specialists Matt Ceragioli and Greg Park labored on behalf of UCLA Well being.
Earlier this 12 months, UCLA Well being acquired the 162,554-square-foot West Valley Medical Portfolio comprising three medical workplace buildings in West Hills, Calif., one other Los Angeles submarket. CBRE represented the vendor.
