The medical sector is a high conviction product for investment capital post-pandemic because of the typical predictability and durability of its tenants, says a broker connected to a prominent medical building sale. A five-story medical office building located at 9033 Wilshire in Beverly Hills recently sold to LaSalle Investment Management for $74.4 million. Totaling 49,721 square feet of class-A space, the property is anchored by USC’s Keck Medical Center.
Newmark’s Kevin Shannon, Rob Hannan, Ken White and Laura Stumm represented the seller, UBS Realty Investors. Steven Salas of Newmark also assisted with the sale.
“Its elevated status has attracted leading physicians in their practices who have patients traveling from all around the world for care,” Hannan says.
The property, which was extensively renovated in 2011, was designed by SIM & Associates. 9033 Wilshire is located near several renowned hospitals including Cedars-Sinai Hospital, UCLA Medical Center, St. John’s Hospital and Olympia Medical Center.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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