2140 Grand Ave - Medical FOR SALE


Chino Hills, CA 91709- Los Serranos
$17,950,000 USD
213-446-7543
2140 Grand Ave, Chino Hills, CA for Sale
$17,950,000 USD
Medical - FOR SALE
1/26
null | 6.5% Cap Rate

2140 Grand Ave
Chino Hills, CA 91709
Los Serranos


HIGHLIGHTS

  • STABILIZED MOB ANCHORED BY POMONA VALLEY HOSPITAL MEDICAL CENTER - CHINO HILLS, CA
  • STABLE CASH FLOW WITH UPSIDE
  • STRONG MEDICAL OFFICE FUNDAMENTALS

OVERVIEW

STABILIZED MOB ANCHORED BY POMONA VALLEY HOSPITAL MEDICAL CENTER - CHINO HILLS, CA * ±95% leased purpose-built MOB anchored by Pomona Valley Hospital Medical Center (PVHMC), a 437 bed fully accredited, acute care hospital serving eastern Los Angeles and western San Bernardino counties. * Originally built to accommodate PVHMC in 2004, PVHMC renewed its commitment to the building by signing a new 7-year NNN lease through December 31, 2029, with 2.5% fixed annual increases. PVHMC currently accounts for ±48% of the rentable building area. * High Credit Anchor - Prior to retiring all its outstanding debt, PVHMC was rated Standard & Poors ‘BBB’. As of April 2021, PVHMC's Annual Net Patient Revenue was ±$650M (90th Percentile). STABLE CASH FLOW WITH UPSIDE * Leased to a diverse mix of 15 tenants with a Weighted-Average Remaining Lease Term of ±4.2 years. * Other than PVHMC, no tenant occupies more than 5.9% of the rentable area, with no more than ±12% rolling in any given year except for 2029. * The in-place NNN leases require minimal management from new ownership. Any operational risk is fully assumed by an experienced tenancy with deep roots in the region. STRONG MEDICAL OFFICE FUNDAMENTALS * Chino Hills is part of the Inland Empire medical office market, comprised of 148 properties totaling 8.4M SF, with a very low vacancy rate of 5.5% and 166K SF of positive net absorption over the past 12 months. * Within a 5-mile radius, Chino Hills Professional Plaza MOB is one of only five high-quality medical office buildings totaling approximately 208K SF, with a low combined vacancy rate of 6.0%, and no new construction planned in the area.

FOR SALE DETAILS

PRICE

$17,950,000 USD

PRICE/SF

$448 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chino Hills Professional Plaza

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

341

LAND DETAILS

LAND ACRES

2.04 AC

LAND SF

88,862 SF

ZONING

PD

APN/PARCEL ID

0266-391-05,1024-511-02

ASK ABOUT THIS PROPERTY

Mark ShafferCBRE, Inc.More Info
213-446-7543

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Mark ShafferCBRE, Inc.More Info
213-446-7543

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.