JLL Capital Markets has completed the $24 million sale of Bon Air Medical Center, a 27,297-square-foot, multi-specialty outpatient medical complex located in Larkspur, California. The seller, Wareham Development Corporation, was represented by JLL’s Medical Properties Group, including Senior Managing Directors Evan Kovac, Andrew Milne, and John Chun, as well as Senior Directors Matt DiCesare and Anthony Sardo. Additional support came from the JLL Investment Sales & Advisory team, with Senior Director Erik Hanson and Senior Managing Director Rob Hielscher leading the effort. The buyer in the transaction was Anchor Health Properties.
“Bon Air Medical Center offered investors the opportunity to acquire a state-of-the-art medical building at an extremely attractive basis below replacement cost,” said Evan Kovac. “The property has an extremely desirable location in affluent Marin County and provides an opportunity to align with the dominant healthcare provider in the market.”
Located at 2 and 18 Bon Air Road in Larkspur, the property sits adjacent to MarinHealth Medical Center, the largest hospital in Marin County. The campus consists of two single-story buildings that are fully leased to MarinHealth. The center offers a broad spectrum of medical services, including cardiovascular medicine, orthopedics, imaging, and spinal care.
