VENTURA, CA-The largest medical-office building sale in Ventura County for 2012 has closed. Kaiser Permanente has purchased two class-A buildings at 2200 E. Gonzales in Oxnard and 888 South Hill in Ventura for $15.2 million, or $243.32 per square foot, from Wilmington Trust, on behalf of a privately held trust.
Bryan Lewitt, Chris Bodnar, Lee Asher and Chris Isola of CBRE represented the seller in the transaction. By both square footage and value consideration, the sale is the largest within Ventura County during 2012 and ranks in the top five largest for L.A. County—where Lewitt and Isola are based—for last year.
“There were concerns about the uncertainty of future taxes and policies,” said Lewitt in a prepared statement. “Therefore, a top priority was to guide both sides through a short 27-day escrow period and execute a year-end close.”
The two buildings, 31,235 square feet each, were 100% occupied by Kaiser on a lease-basis prior to the sale, which was an all-cash transaction.
As GlobeSt.com reported in June 2012, Kaiser Permanente opened a third medical office building in the Thousand Oaks, CA, area. The organization leased approximately 11,000 square feet at 322 East Thousand Oaks Blvd. to consolidate its pediatrics, primary care and OB-GYN practice.
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