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NEWPORT BEACH, CA-A private investor has purchased a single-story, triple-net-leased medical office building at 4300 Von Karman in the Koll Center Newport here from the PRES Cos. for $5.4 million. The building will be occupied by DaVita Dialysis. The price per square foot of $811 represents the highest price achieved for a net-leased property sold for more than $5 million ever in Orange County, according to industry experts, and the 4.95% cap rate is the lowest cap rate ever for a DaVita-occupied property nationally. Nicholas Coo, Matthew Mousavi and Patick Luther of Faris Lee Investments represented PRES in the transaction, while the buyer was represented by Jack McNutt of Newmark Grubb Knight Frank.

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