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Owner-Occupier Pays $9M for Upland MOB
CBRE recently facilitated the $8.85-million sale of 400 Mountain Ave., a 47,850-square-foot medical office building in Upland. Sammy Cemo, Anthony DeLorenzo, Austin Reuland, Bryan Johnson and Nick Williams of CBRE’s Investment Properties represented the seller, Harbor Associates, in the sale to a local medical user.
“This was an incredible opportunity to acquire an extremely high-image, turn-key medical/office building,” said Cemo. “The new ownership will benefit from the existing medical buildout on the third floor for their own occupancy and the ability to capture the ongoing medical office demand Upland has been experiencing to lease the remainder of the building.”
The three-story building is located on the southeast corner of Arrow Highway and North Mountain Avenue within Stewart Plaza. The previous owner invested more than $1 million in capital improvements, including a roof replacement, lobby upgrades and exterior modernization.
- ◦Sale/Acquisition


