Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CYPRESS, CA-SCP Park Meadows LLC of Indiana has purchased a 53,500-sf office building that serves as the headquarters for former owner-occupant RevCare Inc., for about $5.8 million.

Jeff Hanson of the Grubb & Ellis Co. investment division in Newport Beach tells GlobeSt.com that Cypress City Center is fully occupied by RevCare, a medical billing service that had owned the property since 1988. Hanson and David Shammas in Grubb & Ellis’ Anaheim office represented the seller, with the buyer represented by Silver Creek Investments, a South Orange County entity that is a local partner of the Indiana company.

As part of the deal, RevCare signed a 12-year lease to remain in the 25-year-old, two-story structure at 5400 Orange Ave. The lease terms were not available, but market rates for comparable space are about $1 per sf per month, triple net. RevCare provides accounts receivable management, administration and debt collection services primarily to health care providers.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.