Anchor Realizes Previously Untapped Potential in Brea MOB Asset

Anchor recently acquired a 38,242-square-foot class-A medical office building located at 380 West Central Ave. in the Brea submarket of Orange County. The newly constructed asset was acquired through a joint venture with Harrison Street, an investment management firm exclusively focused on alternative real assets. The price was undisclosed.

Developed in 2018 as part of Central Park Village, a 16-acre master-planned community on the former Brea community hospital campus, the MOB was constructed as a replacement of the hospital’s legacy outpatient ambulatory buildings. The facility is anchored by CareMore Health System, a subsidiary of Anthem Inc., First California Physician Partners, a subsidiary of Tenet Healthcare/Placentia-Linda Hospital and United Medical Imaging.

“As we continue to thoughtfully and strategically target specific markets and properties such as the Brea MOB, we are well positioned to create additional value to our tenants through operational efficiencies as well as realize previously untapped potential in the assets themselves,” says James Schmid, chief investment officer and managing partner with Anchor.

CareMore uses this location as one of its primary care branches with a focus on senior care. The regional health system is complemented by First California Physician Partners. These two anchor tenants are joined by United Medical Imaging, a regional imaging clinic. The balance of third-party tenancy is comprised of multi-specialty practices including oral surgery, ophthalmology and plastic surgery.