The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
April 14, 2021
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
LaSalle Investment Management Pays $1,500/sf for Beverly Hills Medical Office Building

3/26/21

LaSalle Investment Management acquired a five-story, 49.7k sf medical office building in Beverly Hills for $74.4 mil ($1,497/sf). The Class A building, located at 9033 Wilshire Blvd, is anchored by USC’s Keck Medical Center.

The state-of-the-art property, which was extensively renovated in 2011, was awarded Best Building & Tenant Improvement by the Los Angeles Business Journal and also received the “Architectural Design Award” by the City of Beverly Hills. Designed by SIM & Associates, the building features a world-class surgery center, a full-service pharmacy offering drug compounding, unique art installations, valet parking with call-down service and a rooftop deck.

Situated in Los Angeles’ premier medical market, the 9033 Wilshire is ideally located near several renowned hospitals, including Cedars-Sinai Hospital, UCLA Medical Center, St. John’s Hospital and Olympia Medical Center.

Newmark’s Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Directors Rob Hannan, Ken White and Senior Managing Director Laura Stumm represented the seller, UBS Realty Investors. Senior Managing Director Steven Salas of Newmark also assisted with the sale.

“9033 Wilshire is one of the elite medical office buildings in Beverly Hills,” commented Hannan. “Its elevated status has attracted leading physicians in their practices who have patients travelling from all around the world for care.”

The healthcare sector remains strong in the current economic environment, outperforming most other commercial property types through the pandemic, according to Newmark Research. Direct vacancy in medical office in Beverly Hills has remained in the single digits since 2002 and consistently achieves some of the highest rental rates in the country.




Return to the previous page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2021 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media