ALISO VIEJO, CA-Accretive Realty of Irvine has acquired a27,000-square-foot medical office building at 24502 Pacific Parkhere that is leased primarily to Kaiser Permanente, according tobrokers from Colliers International who represented both the buyerand the seller in the transaction. Accretive Realty, whichspecializes in medical office space, bought the property fromNewport Beach-based investment firm Saunders Property Co. for $7million.

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Built in 1987, the facility is a three-story medical officebuilding, with two of the three floors occupied by KaiserPermanente. The other floor is occupied by several local physiciangroups.

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John Wadsworth, vice president and director of healthcareservices in Colliers International’s Irvine office, points outthat, “Despite the tough market for investment sales in generaloffice product, there is still strong demand for medical officebuildings from the investment community." Wadsworth, whorepresented both the buyer and the seller along with senior vicepresident Bob Hoyt in Colliers International’s Irvine office, addsthat, "We have found that investment groups with an extensivemedical background have been successful in identifying andstructuring value-added medical plays, despite the difficulteconomic backdrop. These groups have been increasingly active inassembling medical office portfolios over the past 12 months.”

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Buyer Accretive Realty Advisors was formed in 2003 to acquire,develop and manage medical assets throughout California. Thecompany has experience in the entitlement, development, planningand construction of office buildings and tenant improvementconstruction of complex medical-related uses.

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