Eastern Los Angeles MOB Sells for $7M

790 E. Bonita Ave. Image via Google Street View

Kothari Property Group has sold a 22,055-square-foot medical office building outside of Los Angeles to Paras Properties LLC, a private investor, for $6.9 million. CBRE represented the seller in the transaction.

Located on 2 acres at 790 E. Bonita Ave. in Pomona, Calif., the two-story property is within 2 miles of both Casa Colina Hospital and Pomona Valley Hospital Medical Center. The building’s surrounding area has a range of shopping and dining options, with a neighborhood retail center half a mile south.

Constructed in 1988, the office building is fully leased by Chaparral Medical Group and Pacific Clinics. The area’s medical office space faces strong demand, which has resulted in increasingly limited availability. According to CBRE, vacancy rates in the Eastern San Gabriel Valley and West San Bernardino submarkets dropped to 6.1 percent in the third quarter, 70 basis points below the overall office rate.

CBRE’s team included Mark Shaffer, Anthony DeLorenzo, Gary Stache and Doug Mack. In December, part of the same team assisted the seller of a 140,945-square-foot industrial park in Oceanside, Calif.