Californian Medical Buildings Sold with Help from NAI Capital
A deal was struck for two buildings within the Huntington Beach Medical Campus in California, with the help of NAI Capital. Executive Vice President of NAI Capital, Tom Nguyen, acted on behalf of KO’s HB Medical Building Inc. in the sale of their properties to Blue Sky HB, LLC, who bought the medical buildings for a price tag of $7.8M.
The sale involves two medical buildings, with a combined square footage of over 48,000, and one parking garage covering 1.8 acres of land. Although the two buildings, which sit at the entrance of the Huntington Beach Medical Campus, are in poor condition, the buyer has plans to renovate their purchase. Other medical facilities located within the campus include Huntington Beach Diagnostic Imaging & Breast Center, Hunting Beach Hospital and Huntington Professional Tower & Pharmacy. Occupants within the campus also include some pediatric practices and Quest Diagnostics.
Tom Nguyen considered the location of the Huntington Beach Medical Campus, combined with the sufficient parking situation, as an excellent opportunity. He believes the location is superb given that Beach Boulevard, otherwise known as Highway 39, is adjacent to the facility. A combination of factors such as a high average household income, a large population within a 5 mile radius and a large amount of traffic in the area all add to the value of the location.
Southern California commercial real estate leader, NAI Capital, is an NAI Global network member. NAI Global has over 375 offices worldwide and over 6,700 local market leaders. NAI Global’s strength lies in the sharing of resources and tools between their members, so each member company can excel in their local markets. NAI Global is owned by C-III Capital Partners, LLC and was acquired in 2012 under management of CEO Andrew Farkas.