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2/03/21
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A private investor purchased Holt Medical Center, a 12.5k sf medical office building in Montclair, for $3.8 mil ($304/sf) as part of a 1031 exchange. It was sold by an OC-based private investor.
Located at 5153 Holt Blvd, the property was originally built in 2006 on a 1.03-acre lot. The single-story building was 100% leased to seven tenants at the time of sale with a weighted average lease term remaining of 5.02 years. It is strategically located within a 15-minute drive from six major medical hospitals.
CBRE’s Sammy Cemo, Anthony DeLorenzo, Gary Stache, Doug Mack, Bryan Johnson and John Oien represented the seller in the transaction. The buyer was repped by an outside broker.
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