UCLA Well being has renewed its 22,224-square-foot medical workplace lease at 2825 Santa Monica Blvd. in Santa Monica, Calif. JLL and Anchor Well being Properties labored on behalf of the proprietor, Harrison Road Actual Property Capital, whereas an in-house group represented the tenant.
The 54,930-square-foot medical facility has been underneath the present possession since 2022, when the corporate acquired it from The Carlyle Group for $58.6 million, in keeping with CommercialEdge data.
The medical workplace constructing sector is ready for a thriving yr because of low emptiness charges, steady long-term tenants and a gradual demand from the ageing Child Boomer inhabitants. Pushed by these components, the sector can be anticipated to expertise a 26 p.c improve in quantity over the subsequent decade, in keeping with a Savills report.
A Los Angeles-area medical outpatient facility
The constructing is close to interstates 10 and 405, in addition to some 15 miles from downtown Los Angeles. Different medical suppliers within the space are Windfall Saint John’s Well being Middle and Pacific Ocean Pediatrics. UCLA Santa Monica Medical Middle can be 1 mile away.
Accomplished in 1983, the three-story property at present serves as a analysis laboratory and medical workplace area for UCLA Well being Jonsson Complete Most cancers Middle. Different tenants on the facility embody Meta Well being, Pinnacle Egg Financial institution and Pinnacle Surrogacy, Integrative Endodontics, Meridien Dental and Orthodontic Middle of Santa Monica, the identical supply exhibits.
JLL Managing Administrators Bryan Lewitt and Monica Enes, along with Govt Vice President Chris Isola, represented the owner, alongside Anchor Well being Properties as third-party asset administration. In-house Senior Leasing Specialists Matt Ceragioli and Greg Park labored on behalf of UCLA Well being.
Earlier this yr, UCLA Well being acquired the 162,554-square-foot West Valley Medical Portfolio comprising three medical workplace buildings in West Hills, Calif., one other Los Angeles submarket. CBRE represented the vendor.
