Los Angeles – Nov. 30, 2016 – CBRE Group, Inc. announced the sale of a single-tenant medical building occupied by DaVita, one of the nation’s largest dialysis service providers, in Palmdale, California for approximately $6.97 million.
CBRE’s Bryan Lewitt, Chris Isola, Gary Stache, Anthony DeLorenzo, Mark Shaffer, John Read and Tiffanie Farr represented the seller in this transaction.
The property, located at 38454 5th Street, is a new state-of-the-art building and contains the highest technological advancements in the industry. In addition, the property is less than a mile from the Palmdale Regional Medical Center, a 157 acute-care hospital that is currently undergoing a major expansion.
“Medical office buildings are ideal investment opportunities given the continued demand and expected medical coverage,” says Lewitt. “The asset is situated in a medical office market that is characterized by a large and rapidly growing patient base with a high percentage of insured individuals and strong patient demand.”
DaVita Kidney Care operates and provides administrative services at 2,318 outpatient dialysis centers across the United States serving approximately 199,000 patients. The Fortune 500 company also operated 139 outpatient dialysis centers located in 11 countries outside the United States.
Palmdale, located in the center of Northern Los Angeles County in the Antelope Valley, is known as a family-oriented community with a high quality of life. A number of new developments are in the final planning or early construction phases throughout the area. Palmdale Medical Regional Center is still in expansion mode with three buildings awaiting construction. In addition, the Oasis Medical Campus facility, a 420,000 square foot development, is expected to break ground soon.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
