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California  + Orange County  + Office  | 

St. Joe’s Hospital Divests Santa Ana Facility for $38M

Irvine, CA-based IRA Capital acquired a medical office building in Santa Ana, CA from St. Joseph Hospital of Orange and affiliated entities for $38.4 million. Located at 2212 E. 4th St., the 56,809 square-foot property is home to anchor tenant St. Joseph Hospital of Orange, the third largest not-for-profit health system in the United States.

The hospital currently operates primary care services, a pharmacy and dialysis center at the site. The freestanding, three-story medical office building recently underwent an $8.5 million specialized medical improvement program and features excess land that can accommodate an additional medical office building.

CBRE’s Gary Stache, Anthony DeLorenzo, Doug Mack, Bryan Johnson and Chris Martin represented the seller. The buyer was self- represented.

“St. Joseph Hospital has occupied the property since 2008 and is currently on a 10-year, triple-net lease that eliminates significant rollover risks for the new owner,” said Stache.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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