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June 20, 2024
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Healthcare Realty Trust Wraps Up $14 Mil MOB Buy in Orange County


Healthcare Realty Trust has purchased Trico Sycamore Plaza, a 22.6k sf, multi-tenant medical office building in the city of Orange, for $14 mil ($619/sf) in an off-market deal. The seller was Trico Sycamore Plaza L.P., the original developer and only previous owner of the property.

Located at 431 S Batavia at the intersection of W La Veta Ave, Trico Sycamore Plaza is walkable to St Joseph Hospital of Orange and the Children’s Hospital of Orange County (CHOC). The location provides convenient access to the 22, 55, 57, and 5 freeways. The property also offers ample free parking. Trico Sycamore Plaza was built in 2003 and underwent an extensive renovation in 2018.

Travis Ives, Gino Lollio and Scott Niedergang of Cushman & Wakefield’s U.S. Healthcare Capital Markets Team represented the buyer in the transaction.

“Trico Sycamore Plaza is a high-quality, modern medical office building desirably positioned across from a major regional hospital campus” said Ives. “Orange County is a tight medical office market, with high barriers to entry, which appeals to long-term investors like Healthcare Realty Trust.”

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