JLL to Lease, Reposition Los Angeles Medical Campus
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Dr. Patrick Soon-Shiong purchased the 674,000-square-foot complex for $135 million out of bankruptcy this April.
Dr. Patrick Soon-Shiong has appointed JLL to lease and reposition the 674,000-square-foot St. Vincent Medical Center campus in Los Angeles, the brokerage firm announced.
Dr. Soon-Shiong’s multinantional holding company NantWorks purchased the sprawling property out of bankruptcy this April, paying $135 million to Verity Health System, according to Yardi Matrix data.
JLL’s Chris Isola, Bryan Lewitt, Tony Morales and Kellie Hill will spearhead the leasing efforts at the five-building medical campus.
The 391,000-square-foot St. Vincent Medical Center holds the distinction of being the city’s first hospital. Verity Health closed the building at 2131 W. Third St. in January, after a failed attempt to sell the property to KPC Group. The State of California leased and reopened the facility in April, as a surge hospital for COVID-19 patients. The lease expired September 30.
The 7.5-acre medical campus also includes:
- A 46,273-square-foot Class A, medical office building at 2200 W. Third St.
- A 34,449-square-foot medical office and life science building at 2222 Ocean View Ave.
- A 110,003-square-foot medical and administrative office building at 201 S. Alvarado St.
- A 92,927-square-foot residential building at 262 S. Lake Ave.
- More than 1,300 parking spaces.
The St. Vincent Medical Center campus is roughly 2 miles from the city center in the Westlake district, two blocks south of Hollywood Freeway. The property is also 15 miles from another hospital rescued from bankruptcy in April.