|In a notable office buy in Ventura County, Kaiser Permanente has acquired two Class A buildings totaling 62.5k sf for $15.2 mil, or around $243/sf. Kaiser Permanente, the nation’s largest non-profit health plan, is already the existing tenant at the buildings, located at 2200 East Gonzales in Oxnard and 888 South Hill in Ventura.
The two medical office buildings, 31.2k sf each, were 100 percent occupied by Kaiser on a lease–basis prior to the sale. They were sold by Wilmington Trust, on behalf of a privately held trust.
Bryan Lewitt, Chris Bodnar, Lee Asher, and Chris Isola of CBRE represented the seller in the transaction, reported to be the largest medical office building sale, both by square footage and value consideration, within Ventura County in 2012.
According to Lewitt, this was an all-cash transaction. “There were concerns about the uncertainty of future taxes and policies, therefore, a top priority was to guide both sides through a short 27-day escrow period and execute a year-end close.”