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2/12/26
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Two fully leased, institutional-quality medical office buildings totaling 85.2k sf of space in Riverside County traded hands for a combined $53 mil. The properties, located at 8876 Mission Blvd in Jurupa Valley and 2813 S Main St Corona, were acquired by the County of Riverside, the tenant in both buildings.
8876 Mission Blvd, Jurupa Valley |
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One of the properties, the Jurupa Valley Community Health Center, located at 8876 Mission Blvd, is a single-story, 40k sf medical outpatient building constructed in 2019. The property is 100% leased to the County of Riverside d/b/a Riverside University Health System (RUHS) under a long-term lease. It sold for $25 mil ($625/sf).
The other trade was for the Corona Community Health Center, located at 2813 S Main St. The two-story, 45.2k sf medical outpatient building sold for $28 mil, or $620. Built in 2018, it is also 100% leased to RUHS under a long-term lease.
Both properties are strategically located within the Inland Empire, one of Southern California’s most robust healthcare real estate markets, and offer convenient access to major highways, robust healthcare infrastructure and a high concentration of insured residents. The surrounding areas feature strong demographics, limited new medical office development and proximity to established healthcare networks.
Cushman & Wakefield’s Healthcare Capital Markets Team, including Travis Ives, Gino Lollio and Tyler Morss, represented the seller in the transaction.
"Medical buildings with investment-grade tenancy and longer lease terms present attractive acquisition opportunities for a wide variety of investor types. In this case, Riverside County was the logical buyer considering their dedication to operating out of these properties long-term and the opportunity to acquire at a significant discount to replacement,” said Ives. “The County’s acquisition of these mission-critical facilities will result in long-term ownership and control of the assets along with a reduction in their overall cost of occupancy."
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