Connect California Commercial Real Estate News | Brea MOB Leased to St. Jude Medical Sold

JLL closed the sale of 2767 East Imperial Highway, an 89,650-square-foot, single-tenant, net-lease medical office property in Brea, CA. The buyer was LaSalle Investment Management, through its medical office fund. The seller was a joint venture between Healthcare Property Advisors and The Innovation Institute.

The MOB is fully leased to St. Jude Hospital for 14 remaining years. The two-story property on 5.08 acres fronts Imperial Highway as well as has access to the 57 Freeway. It is the largest standalone physical rehabilitation center in SoCal with proximity to St. Jude Hospital in Fullerton.

JLL’s Nick Foster, Evan Kovac, Andrew Milne and Andrew Harper represented the seller and procured the buyer. JLL’s John Chun advised from a debt and structured finance perspective.

“JLL was fortunate enough to take this opportunity full circle for ownership, financing the original acquisition and then listing the asset after ownership was able to negotiate a long-term extension for the tenant,” Foster said. More…