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1/14/21
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A vacant, 15.2k sf two-building medical office property in Downey traded for $4.45 mil ($293/sf). Located at 8600 and 8630 Florence Ave, the asset was purchased by an entity of The Whole Child (TWC), a non-profit organization established in 1957 by community members who saw a need for children in vulnerable communities.
Built in 1969, the two-story property is situated on 1.1 acres and was formerly used as a dialysis center which vacated 11 months ago. The asset includes a reception area, lunchroom and restrooms. The property is 2.5 miles from PIH Health Downey Hospital and Kaiser Permanente Hospital.
Patrick Barnes with Avison Young represented the seller, a Los Angeles-based private investor. The buyer was repped by Gary Martinez with NAI Capital.
“TWC will use the larger two-story building, which is just over 11k sf, for its headquarters,” said Barnes. “The buyer was seeking a secured, freestanding building that would provide a safe environment for the children and this was a perfect fit.”
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