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Jamison Properties Divests Long Beach MOB
CBRE arranged the sale of Atlantic Medical Center, a 68,845-square-foot purpose-built medical office building in Long Beach, to a private buyer for $29 million. The firm’s Michael Longo, Mark Shaffer, Todd Tydlaska, Sean Sullivan and Anthony Delorenzo represented the seller, Los Angeles-based Jamison Properties.
Located at 701 E. 28th St., the four-story building is across the street from MemorialCare Long Beach Medical Center. At the time of sale, the property was 92% occupied. The Children’s Clinic Family Health, a not-for-profit 501(c)(3) health center, occupies approximately 27%, with the remainder occupied by 14 other tenants providing various clinical medical services including general medicine, urgent care, obstetrics/gynecology, urology, neurology, on-site surgery and imaging.
“On-campus medical office properties remain well occupied and are in high demand from investors who recognize that for certain types of clinical medical uses, there is no replicating an in-person exchange with a doctor,” said Longo.
- ◦Sale/Acquisition
