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August 12, 2020
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SOUTHERN CALIFORNIA NEWS
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Pomona Medical Office Building Sells for Over $300/sf

2/14/20

A 22.1k sf, medical office building in Pomona has sold for $6.85 mil, or $310/sf. The buyer was PARAS Properties LLC, a private investor.

Located at 790 E. Bonita Ave, the two-story property is currently fully leased by Chaparral Medical Group and Pacific Clinics. The modern, low-rise office building sits on a corner lot
with prominent frontage and high visibility at the intersection of North Towne Ave at East Bonita with approximately 29,000 cars passing through daily.

CBRE’s Mark Shaffer, Anthony DeLorenzo, Gary Stache, Gerard Poutier, Adam Peterson, Doug Mack and Bryan Johnson represented the seller, Kothari Property Group, in the transaction.

“Future certainty and the stability of this property’s income stream is bolstered by its longstanding tenancy with occupancy in its 24th year,” said Shaffer. “This truly is an irreplaceable medical facility with unmatched access to two nearby hospital systems. This location has a built-in and growing patient base.”

Pomona has a scarcity of ‘mid-block’ medical offices while two major hospitals drive regional healthcare demand in the market, including Pomona Valley Medical Hospital Center and San Antonio Regional Hospital.

“Real estate fundamentals within this area, consisting of Eastern San Gabriel Valley and West San Bernardino, are strong, with a direct office vacancy of 6.8% as of the third quarter, with direct medical office vacany being even tighter, at 6.1%,” added Shaffer.







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