Trammell Crow Sells Los Angeles-Area MOB
- Jul 24, 2020
Trammell Crow Co. has sold the MLK Community Health Building, a 52,000-square-foot medical office property in Willowbrook, Calif., for $43.3 million. Seavest Healthcare Properties purchased the Class A asset located on the campus of the Martin Luther King Jr. Community Hospital through its Seavest Properties V fund.
Trammell Crow developed the facility at 12021 S. Wilmington Ave. in a public-private partnership with Los Angeles County Development Authority and MLK Jr. Community Hospital. Opened this March, the two-story, HKS Architects-designed property is the first standalone medical office building part of the more than $1 billion medical campus, which incorporates the 131-bed hospital. The property is some 13 miles south of downtown Los Angeles, just south of Interstate 105. St. Francis Medical Center is 3 miles east.
Fully leased to MLK Los Angeles Healthcare Corp., the nonprofit organization operating the new campus, the facility includes an ambulatory surgery center, provider care space and pharmacy. Outpatient services feature wound care, telehealth and imaging, among others.
CBRE Vice Chairmen Chris Bodnar and Lee Asher, who also lead the firm’s U.S. Healthcare Capital Markets, brokered the transaction.