Combined Investments Acquires South County MOB, Retail MXU
La Paz Plaza, a 51,766-square-foot low-rise medical office and retail campus located in South Orange County’s master-planned community of Mission Viejo, CA, sold for $32.375 million. Combined Investments purchased the asset from Flinn West, a Newport Beach, CA-based private real estate firm.
La Paz Plaza is situated in a charming and well-landscaped brick and stone courtyard plaza, and is comprised of four beautifully constructed Spanish-style buildings. The property is 96% leased, with nearly 75% of net rentable area occupied by a diversified mix of medical tenants and 25% retail users.
JLL’s Matt Berres and G. Ryan Smith represented the seller.
Berres says, “Flinn West did an incredible job with the re-positioning of La Paz Plaza over the past several years, converting general office suites to medical office to capitalize on the growing demand in the immediate area.”
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