{"id":1004180570,"date":"2017-06-15T05:17:17","date_gmt":"2017-06-15T13:17:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004180570"},"modified":"2022-12-09T01:19:34","modified_gmt":"2022-12-09T09:19:34","slug":"cbre-secures-1031-exchange-buyer-for-la-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-secures-1031-exchange-buyer-for-la-mob\/","title":{"rendered":"CBRE Secures 1031 Exchange Buyer for LA MOB"},"content":{"rendered":"<p>By Ariela Moraru<\/p>\n<div id=\"attachment_1004180572\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11832-11846-Rosecrans-Ave.-Norwalk-Calif..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004180572\" data-attachment-id=\"1004180572\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-secures-1031-exchange-buyer-for-la-mob\/11832-11846-rosecrans-ave-norwalk-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11832-11846-Rosecrans-Ave.-Norwalk-Calif..jpg\" data-orig-size=\"758,544\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Ariela Moraru&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1497463844&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"11832-11846 Rosecrans Ave., Norwalk, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;11832-11846 Rosecrans Ave., Norwalk, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11832-11846-Rosecrans-Ave.-Norwalk-Calif..jpg?w=758\" class=\"wp-image-1004180572 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11832-11846-Rosecrans-Ave.-Norwalk-Calif..jpg\" alt=\"11832-11846 Rosecrans Ave., Norwalk, Calif.\" width=\"300\" height=\"215\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11832-11846-Rosecrans-Ave.-Norwalk-Calif..jpg 758w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/11832-11846-Rosecrans-Ave.-Norwalk-Calif..jpg?resize=300,215 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004180572\" class=\"wp-caption-text\">11832-11846 Rosecrans Ave., Norwalk, Calif.<\/p><\/div>\n<p>CBRE Group Inc. arranged the sale of a net-leased medical office building in Norwalk, Calif., to a local buyer for $5.4 million or $284 per square foot. CBRE\u2019s Gary Stache, Mark Shaffer, Doug Mack and Michael Spiezia represented the seller, Stanton Road Capital, in the transaction that was part of a 1031 exchange.<\/p>\n<p>Located at 11832-11846 Rosecrans Ave., the 18,984 square-foot property is fully leased until February 2027 to Avanti Hospitals, which owns and operates four community hospitals within Los Angeles County. The single-story was built in 1976 and is situated across the street from Norwalk Town Square <a href=\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-asset-trades-for-20m\/\">shopping center<\/a> and has easy access to interstates 5, 605 and 105.<\/p>\n<h2>What drives MOB demand?<\/h2>\n<p><em>&#8220;Many investors are looking for ease of ownership,&#8221;<\/em>\u00a0said Stache in prepared remarks. &#8220;<em>This property provides ease of ownership with stable, passive income and a low risk, in-place cash flow yield.&#8221;<\/em><\/p>\n<p>According to CBRE, private investors, 1031-exchange and foreign buyers have been driving the demand for medical facilities. &#8220;<em>Many of these investors have never owned medical before and are drawn to the perceived stability of the cash flow and the asset type,&#8221;<\/em>\u00a0Mack said in a prepared statement.<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 18,984 square-foot property changed hands for $5.4 million and is fully leased on a long-term basis to Avanti Hospitals.<\/p>\n","protected":false},"author":960,"featured_media":1004180572,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1594,21754,21742,15],"tags":[33536,32789,36278,36172],"class_list":["post-1004180570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-los-angeles","category-medical-office","category-latest","category-west","tag-1031-exchange","tag-cbre","tag-medical-office-building","tag-stanton-road-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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