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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.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


