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San Clemente MOB Sells for $436/SF
CBRE recently negotiated the sale of 1300 Ave. Vista Hermosa, a 27,535-square-foot medical office building in San Clemente, at approximately $12 million, a sale price equating to $436 per square foot and a 6.93% capitalization rate. A Southern California-based high-net-worth individual purchased the property.
Gary Stache, Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Nick Williams of CBRE’s Investment Properties represented a private seller. “The sale of this property was a unique opportunity to acquire a Class A medical office building in one of the safest real estate markets in the country,” said Stache.
The two-story building, built in 2002, is situated on 1.66 acres on the southwest corner of Avenida Vista Hermosa and Avenida Pico. The building is 92% occupied with seven medical tenants, including Children’s Hospital of Orange County and Camino Health Center.
- ◦Sale/Acquisition
