Cushman & Wakefield arranged the sale of two fully leased, institutional-quality medical office buildings totaling 85,204 square feet in Riverside County. The properties, located at 8876 Mission Blvd. in Jurupa Valley and 2813 S Main St. in Corona, sold for $25,000,000 and $28,000,000, respectively.
A Cushman & Wakefield Healthcare Capital Markets Team of Travis Ives, Gino Lollio and Tyler Morss represented the seller. The properties were acquired by the County of Riverside, the tenant in both buildings.
“Medical buildings with investment-grade tenancy and longer lease terms present attractive acquisition opportunities for a wide variety of investor types,” said Ives. “In this case, Riverside County was the logical buyer, considering their dedication to operating out of these properties long-term and the opportunity to acquire at a significant discount to replacement.”
Both properties are 100% leased to the County of Riverside d/b/a Riverside University Health System.
The post County of Riverside Acquires Two MOBs for $53M appeared first on Connect CRE.
