Rare Beverly Hills MOB Minutes from Cedars-Sinai Goes for $82M
A three-story medical office building located at 150 North Robertson Blvd. in Beverly Hills recently sold for $81.5 million. Also known as the Beverly Hills Medical Plaza, the property is comprised of 67,510 square feet of class-A space and leased to a diverse roster of physicians as well as other high-profile medical tenants. 150 North Robertson is centrally located, just minutes from Cedars-Sinai Medical Center and the UCLA Ronald Reagan Medical Center.
Newmark’s Kevin Shannon, Rob Hannan, Ken White and Laura Stumm represented the seller, a private family office. Newmark’s Steven Salas also participated in the sale and will lease the asset on behalf of the buyer, a partnership between Morgan Stanley and Meridian Property Company. As testament to the rare opportunity to acquire a premier medical office property in Beverly Hills, the seller developed the property in 1989 and had retained ownership since that time.
“Investment capital remains highly motivated to acquire premier well-located medical office product post-pandemic because of the vital in-person nature of the patient and doctor relationship,” said Hannan. “The medical office sector provides the resilient, safe harbor profile desired by many investors in today’s capital markets landscape.”
The Gensler-designed asset features an extremely rare porte cochère, the only of its kind among Beverly Hills medical buildings. This allows immediate building access and sits above three levels of subterranean parking. The property, which is 88 percent leased, includes an on-site surgery center and presents the buyer with the opportunity to push rents.
“With its unrivaled points of entry, be it the porte cochère or the grandiose three-story atrium lobby, in concert with its proximity to Cedars-Sinai, 150 North Robertson provides one of Beverly Hills’ best tenant and patient environments,” Salas adds. “Morgan Stanley and Meridian have acquired an irreplaceable gem.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.