Medical office space fared much better than conventional offices during the COVID-19 pandemic as patients aimed to stay away from crowded hospitals, the Los Angeles Business Journal reports.
Here are three recent medical office building purchases in the Los Angeles area that totaled $102 million:
1. La Salle Investment Management acquired a Beverly Hills, Calif., medical office building with ASC for $74.4 million. The five-story, 49,721-square-foot building includes a surgery center and full-service pharmacy.
2. Real estate company GPI purchased a 30,000-square-foot medical office building in Santa Monica, Calif., for $22.5 million. The property was sold by Burbank, Calif.-based real estate company Lexham Realty.
3. In early March, commercial real estate company Newmark sold a medical office building in Carson, Calif., for $5.1 million. The 8,409-square-foot facility is fully leased by Renton, Wash.-based Providence.