LaSalle Investment Management has purchased a single-tenant, net-leased medical office building in the Eagle Rock neighborhood of Los Angeles for $18 million. The transaction was arranged by Newmark who represented the seller, Eastern Real Estate LLC and Atlas Capital Group.

Located at 2560 Colorado Blvd., the 20,000-square-foot building is leased by Adventist Health Glendale as a critical outpatient facility. It is situated one mile from Adventist Health Glendale hospital, the largest medical center serving the San Fernando Valley. 

“Despite rising interest rates and lower transaction activity, medical office continues to outperform other product types. The bidder pools are just as large as they were in 2021 and pricing hasn’t changed all that much,” said Newmark Vice Chairman Sean Fulp who arranged the transaction along with Vice Chairman Bill Bauman, Executive Managing Director Kyle Miller, and Managing Directors Mark Schuessler and Ryan Plummer.