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ANAHEIM, CA-A private investor bought a 24,026-sf medical and office building at 1020 S. Anaheim Blvd. from another private investor for $1.95 million. The buyer was in a 1031 exchange with proceeds from the sale of an Inland Empire apartment building.

Michael Lawrence of Marcus & Millichap tells GlobeSt.com that the three-story building is in an excellent location across the street from the Western Medical Center-Anaheim Hospital. Lawrence and Joseph Lising of Marcus & Millichap represented the seller, while Jason Philips, also of Marcus & Millichap, represented the buyer.

The building was constructed in 1967 and is of wood frame and stucco construction with a flat composition roof that was replaced two years ago. Most of the HVAC equipment in the building is new, Lawrence says, and the building is served by an elevator. It is in a high-visibility location with quick access to the 5 and 57 freeways, about a half mile south of Anaheim Civic Center. The building was 90% occupied at the time of the closing. The seller had owned it for more than 10 years.

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