Family Investment Group Buys LA MOB
- Mar 23, 2018
Burbank, Calif.-based Family Investment Group has bought a 33,438-square-foot medical office building in Mission Hills, Calif., for $13.7 million in an off-market transaction. According to Family Investment Group, the property was 100 percent occupied by Facey Medical Group, a division of Providence Hospitals, at the time of the sale. Commercial Asset Group Executive Vice President David Aschkenasy represented the buyer in the transaction, while Realty Executives Valencia’s Mark Oliver represented the seller, Porter Ranch, a Calif.-based San Fernando Professional Building LLC.
Located at 11155-11166 Sepulveda Blvd., the one-story building spreads across a 3.5-acre site.
“The buyer was in a 1031 exchange and this investment opportunity offered a single-tenant stabilized asset with a strong tenant”, said Aschkenasy in a prepared statement. “The property is well located within close distance of numerous retail developments (and) next door to a small-lot, subdivision project.”
Mission Hills Police Station and Facey Medical Foundation are both located nearby. San Diego Freeway, Ronald Reagan Freeway and Golden State Freeway are also easily accessible from the property.
Photo via Google Maps