The 266,303-square-foot portfolio was purchased on behalf of Sterling Organization's institutional fund, Sterling Value Add Partners III, LP for an undisclosed amount.

Hospital officials say the new tower will be a part of a planned $215-million campus expansion and modernization effort. Construction on the new patient tower is expected to begin in the first quarter of 2019.

Earlier this week, the company purchased O'Hare International Center in Rosemont, IL from Blackstone for $64 million.

Industrial demand and new construction are balanced in the Inland Empire with a 4% vacancy rate and steadily rising rental rates that are still a discount to coastal markets.