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California  + Inland Empire  + Healthcare  | 

Owner-Occupier Pays $9M for Upland MOB

CBRE recently facilitated the $8.85-million sale of 400 Mountain Ave., a 47,850-square-foot medical office building in Upland. Sammy Cemo, Anthony DeLorenzo, Austin Reuland, Bryan Johnson and Nick Williams of CBRE’s Investment Properties represented the seller, Harbor Associates, in the sale to a local medical user.

“This was an incredible opportunity to acquire an extremely high-image, turn-key medical/office building,” said Cemo. “The new ownership will benefit from the existing medical buildout on the third floor for their own occupancy and the ability to capture the ongoing medical office demand Upland has been experiencing to lease the remainder of the building.”

The three-story building is located on the southeast corner of Arrow Highway and North Mountain Avenue within Stewart Plaza. The previous owner invested more than $1 million in capital improvements, including a roof replacement, lobby upgrades and exterior modernization.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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