{"id":1004182842,"date":"2017-07-05T03:23:38","date_gmt":"2017-07-05T11:23:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004182842"},"modified":"2022-12-08T17:33:26","modified_gmt":"2022-12-09T01:33:26","slug":"cbre-arranges-long-beach-mob-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-long-beach-mob-sale\/","title":{"rendered":"CBRE Arranges Long Beach MOB Sale"},"content":{"rendered":"<p>By Ariela Moraru<\/p>\n<div id=\"attachment_1004182843\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/2690-Pacific-Ave.-Long-Beach-Calif..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004182843\" data-attachment-id=\"1004182843\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-long-beach-mob-sale\/2690-pacific-ave-long-beach-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/2690-Pacific-Ave.-Long-Beach-Calif..jpg\" data-orig-size=\"1215,868\" 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;1499190986&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=\"2690 Pacific Ave., Long Beach, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2690 Pacific Ave., Long Beach, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/2690-Pacific-Ave.-Long-Beach-Calif..jpg?w=1024\" class=\"wp-image-1004182843 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/2690-Pacific-Ave.-Long-Beach-Calif..jpg\" alt=\"2690 Pacific Ave., Long Beach, Calif.\" width=\"300\" height=\"214\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/2690-Pacific-Ave.-Long-Beach-Calif..jpg 1215w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/2690-Pacific-Ave.-Long-Beach-Calif..jpg?resize=300,214 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/2690-Pacific-Ave.-Long-Beach-Calif..jpg?resize=768,549 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/2690-Pacific-Ave.-Long-Beach-Calif..jpg?resize=1024,732 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004182843\" class=\"wp-caption-text\">2690 Pacific Ave., Long Beach, Calif.<\/p><\/div>\n<p>CBRE Group Inc. has arranged the sale of a 26,293-square-foot medical office building in Long Beach, Calif., to a private investor for $6.5 million. The building was 91 percent occupied at the time of the transaction by a variety of tenants, including LabCorp, with an average lease term of four years.<\/p>\n<p>Located at 2690 Pacific Ave., with easy access to interstates 710 and 405, the property is adjacent to the Long Beach Memorial Medical Center. CBRE\u2019s Mark Shaffer, Gary Stache, Anthony DeLorenzo and Doug Mack represented the seller, Davis Harouni of Western Building LLC. Chris Isola of CBRE represented the buyer.<\/p>\n<p><em>\u201cThe building is located within a strong medical office market with a dense patient population,\u201d<\/em> said Shaffer in prepared remarks. <em>\u201cThis transaction represented a unique opportunity for the buyer to acquire a medical office building with a high occupancy rate in a mission-critical location.\u201d<\/em><\/p>\n<h2>Steady growth<\/h2>\n<p>Health services is\u00a0an employment sector\u00a0that has grown every year, according to CBRE Research, driving demand for medical facilities, which was in turn fuelled by private investors, 1031-exchange and foreign buyers. CBRE has recently transacted another <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-secures-1031-exchange-buyer-for-la-mob\/\">L.A.-area \u00a0medical office building<\/a> for $5.4 million.<\/p>\n<p><em>Image courtesy of CBRE <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 26,293-square-foot property changed hands for $6.5 million and was 91 percent occupied at the time of the transaction by a variety of tenants.<\/p>\n","protected":false},"author":960,"featured_media":1004182843,"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":[32789,36569,36278,36570],"class_list":["post-1004182842","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-cbre","tag-long-beach","tag-medical-office-building","tag-western-building"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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