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HCP Unloads Sherman Oaks MOB for $20M

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C.A. Development Operations LLC, a private Los Angeles-based investor, acquired an office property in Sherman Oaks from REIT HCP Inc. for $20 million. The 2.92-acre property features a pair of two-story medical office buildings, totaling 78,000 square feet, and is located at 4835 and 4849 Van Nuys Blvd.

The property is near a Trader Joe’s, Whole Foods, Westfield Mall, a major park, the Sherman Oaks Recreation and Aquatic Centers, as well as a host of restaurants and entertainment venues. The location also provides easy access to the 405 and 101 freeways.

CBRE’s Bradford McCarthy and Cody Chiarella represented the seller. The buyer was self-represented.

“This property presented the opportunity for the buyer to own an outstanding piece of real estate with tremendous future development potential in a prime location and in-place cash flow,” said McCarthy. “This is something many investors are seeking, but is very hard to find in today’s competitive market.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition