CBRE has successfully completed the sale of a premier medical office building located at 1300 Ave. Vista Hermosa in San Clemente, California. The property, which spans over 27,000 square feet and was sold for $12 million at a cap rate of 6.93%, was acquired by a high-net-worth individual based in Southern California.
The transaction was facilitated by CBRE’s team of experts including Gary Stache, Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Nick Williams from the Investment Properties division who represented the private seller. According to Stache: “This sale presented an exceptional opportunity to acquire a top-notch Class A medical office building in one of the most secure real estate markets nationwide.”
Built in 2002 on a spacious lot measuring approximately 1.66 acres on Avenida Vista Hermosa and Avenida Pico’s southwest corner; this two-story structure is currently occupied by seven prominent medical tenants such as Children’s Hospital of Orange County and Camino Health Center with an impressive occupancy rate reaching up to 92%.
