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Marcus & Millichap Arranges the Sale of a 51K SF Medical Office Building

April 19, 2022

AGOURA HILLS, CA, April 19, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Agoura Hills Medical Plaza, a 51K SF medical office property adjacent to the 101 Freeway, in Agoura Hills, CA, according to James Brian Markel, regional manager of the firm’s Ventura office. The asset sold for $21,450,000 ($429/SF).

James DeBuiser, First Vice President in Marcus & Millichap’s Ventura office, provided sales advisory services on behalf of the seller. The buyer, an institutional healthcare real estate investor, was also secured and represented by James DeBuiser.

Strategically positioned in the Agoura Hills submarket of the Los Angeles MSA, directly adjacent to US-101 as well as a newly developed 75 unit senior housing facility, this nearly 51,000 square foot Class A facility was originally built in 1983 and was fully renovated in 2020. Offering a wide range of services to the local community, including a surgery center as well as multiple primary care and specialist providers, this best in class asset enjoys a highly synergistic, cross-referral environment.

Dynamic regional and local anchor tenancy includes Providence Health (Moody’s Aa3), a non-profit Catholic health care system with a large footprint throughout Southern California and the Western US; an urgent care center operated by AME Medical Group, a well-established regional urgent care operator; and, an AAAHC (Accreditation Association for Ambulatory Health Care) accredited two OR ambulatory surgery center operated by Carmenta Surgical Center. The balance of tenancy is a mix of primary and specialty care practices, including pediatrics, and family medicine, dermatology, orthopedics, and laboratory services provided by Quest Diagnostics (Moody’s Baa2). The asset also offers a high-volume onsite pharmacy.


 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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