CBRE successfully arranged the sale of Atlantic Medical Center, a 68,845-square-foot purpose-built medical office building in Long Beach to a private buyer for $29 million. Michael Longo, Mark Shaffer, Todd Tydlaska , Sean Sullivan and Anthony Delorenzo from CBRE represented the seller – Los Angeles based Jamison Properties.
The four story property located at 701 E. 28th St., is across the street from MemorialCare Long Beach Medical Center and was 92% occupied at time of sale with The Children’s Clinic Family Health occupying 27%. The remaining tenants provide various clinical medical services including general medicine, urgent care, obstetrics/gynecology urology neurology onsite surgery and imaging.
Longo commented “On campus medical office properties remain well occupied due to high demand from investors who recognize that certain types of clinical medical uses require an in person exchange with a doctor” .
