{"id":1004431231,"date":"2020-05-06T05:11:58","date_gmt":"2020-05-06T13:11:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004431231"},"modified":"2020-05-06T05:11:58","modified_gmt":"2020-05-06T13:11:58","slug":"university-of-southern-california-signs-full-building-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/university-of-southern-california-signs-full-building-lease\/","title":{"rendered":"University of Southern California Signs Full-Building Lease"},"content":{"rendered":"
\"\"<\/a>

Newport Harbor Medical Plaza. Image courtesy of Newmark Knight Frank<\/em><\/p><\/div>\n

University of Southern California has signed a full-building lease at Newport Harbor Medical Plaza, a 30,000-square-foot medical office property in Newport Beach, Calif., despite the headwinds MOB leasing activity is facing<\/a> currently. Newmark Knight Frank negotiated on behalf of Advanced Medical Properties, the owner of the facility, which came online in the first quarter of this year.<\/p>\n

Developer Shaoulian Properties broke ground on the project in 2017. C.W. Driver Cos. served as the general contractor, while Bundy-Finkel Architects provided architectural services. Thorofare Capital provided $20.1 million in construction financing, according to Yardi Matrix.<\/p>\n

Located at 330 Old Newport Blvd., the two-story building features floorplates ranging between 13,426 and 14,929 square feet, as well as above-ground and subterranean parking. According to NKF Managing Director John Scruggs, USC intends to use the space for a multi-modality clinic and will start making the necessary tenant improvements.<\/p>\n

Newport Harbor Medical Plaza is just north of the city center alongside Freeway 55, across from the Hoag Memorial Presbyterian Hospital. Various restaurants, shops and hotels are within a 1-mile radius of the property.<\/p>\n

Scruggs worked together with NKF Executive Managing Director Garth Hogan in negotiating the lease. Earlier this year, Hogan was instrumental in the $59 million sale<\/a> of a 10-property portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 30,000-square-foot medical office property delivered in the first quarter of this year in Newport Beach, Calif.<\/p>\n","protected":false},"author":870,"featured_media":1004431237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21754,21742,34267,15],"tags":[49168,40506,36007,35199,33639],"class_list":["post-1004431231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-medical-office","category-latest","category-orange-county","category-west","tag-c-w-driver-cos","tag-garth-hogan","tag-newmark-knight-frank","tag-thorofare-capital","tag-university-of-southern-california"],"acf":[],"yoast_head":"\nUniversity of Southern California Signs Full-Building Lease - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/university-of-southern-california-signs-full-building-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"University of Southern California Signs Full-Building Lease\" \/>\n<meta property=\"og:description\" content=\"The 30,000-square-foot medical office property delivered in the first quarter of this year in Newport Beach, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/university-of-southern-california-signs-full-building-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-06T13:11:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Newport-Harbor-Medical-Plaza-e1588756415646.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1041\" \/>\n\t<meta property=\"og:image:height\" content=\"780\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/university-of-southern-california-signs-full-building-lease\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/university-of-southern-california-signs-full-building-lease\/\",\"name\":\"University of Southern California Signs Full-Building Lease - 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