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February 25, 2024
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Anchor Health Properties Spends $27.6 Mil on Irvine Medical Office Property


Anchor Health Properties has purchased Woodbridge Square Medical, a two-story,36.1k sf multi-tenant medical office building in Irvine, for $27.6 mil, or $765/sf. Located at 4980 Barranca Pkwy, the building was sold by Boureston Development.

The property was 94% leased at the time of sale to 18 medical, dental and laboratory tenants with unique synergies that result in high tenant retention. Situated in the Barranca Medical Corridor, the asset is less than two miles from Hoag Hospital Irvine and Kaiser Permanente Irvine Medical Center.

Newmark Private Capital Group’s Vice Chairman Sean Fulp, Managing Directors Mark Schuessler, Ryan Plummer and John Scruggs, in partnership with Co-Head of U.S. Capital Markets Kevin Shannon, and Executive Managing Directors Paul Jones and Ken White, represented the seller in the transaction.

Scruggs noted, “The property is one of the newest buildings in the submarket and is well positioned to capture new entrants into the market. Demand for medical office in Irvine is expected to outpace supply, which will continue to put upward pressure on rents.”

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