CBRE Brokers San Diego MOB Sale
- May 07, 2020
CBRE has arranged the $6 million sale of Richley Medical Plaza, a 25,600-square-foot medical office building in San Diego. Vice Presidents Dan Henry and Lars Eisenhauer represented the seller, a private investor.
According to Yardi Matrix data, Olios Health, an Orange County-based pain management group, was the buyer. First Citizens Bank financed the acquisition with a $5.1 million loan.
Located at 3434 Midway Drive, the asset is adjacent to the Kaiser Permanente Point Loma Medical Office. The two-story building was completed in 1991 and includes a 6,475 square-foot surgery center with three operating rooms, a recovery area, a waiting room, a reception, two restrooms and 65 parking spaces.
At the time of sale, the property was 85 percent vacant, according to CBRE. Richley Medical Plaza is less than a mile from interstates 5 and 8, and a little over 4 miles southwest of downtown San Diego.
Recently, another CBRE team arranged the $34 million refinancing of Phoenix Business Park. The 217,433-square-foot office campus comprises two office buildings and a freestanding restaurant.