CBRE recently facilitated the $8.85-million sale of a 47,850-square-foot medical office building in Upland. The property, located at 400 Mountain Ave., was sold by Harbor Associates to a local medical user.
According to Sammy Cemo of CBRE’s Investment Properties team, this was an exceptional opportunity for the new owner to acquire a highly desirable and fully equipped medical/office building. The third floor is already built out for medical use, providing immediate occupancy options for the buyer while also taking advantage of Upland’s growing demand for such properties.
Situated on the southeast corner of Arrow Highway and North Mountain Avenue within Stewart Plaza, this three-story building boasts modern upgrades including a new roof replacement and lobby renovations worth over $1 million invested by its previous owner. With its prime location and attractive features, it is expected that this acquisition will prove beneficial for both parties involved in the transaction.
The article “Owner-Occupier Pays $9M for Upland MOB” originally appeared on Connect CRE.
