Medical Office Property Near San Francisco Sells for Nearly $14 Million

Anchor Health Properties, as part of a joint venture with an institutional healthcare real estate investor, has acquired a Vallejo outpatient medical office, Park Place Medical, for $13.65 million. JLL represented the seller, a private Los Angeles investor who concentrates on medical-related properties.

The 56,991-square-foot, multi-tenant, outpatient medical office and behavioral health facility is anchored by Kaiser Permanente, California’s largest not-for-profit health system, which leases 82 percent of the property.

Some local medical practices take up the remainder of the facility which is located on 3.2 acres at 1761 North Broadway St.

“The behavioral health segment has emerged as one of the fastest growing sectors within healthcare due to the growing prevalence of behavioral disorders and increasing awareness of therapeutic options,” JLL Healthcare Capital Markets Director Matt DiCesare DiCesare said.

The seller was also represented by JLL Senior Managing Directors Evan Kovac and Andrew Milne, and Vice President Trent Jemmett.