MURRIETA, CA—Lee & Associates-LANorth/Ventura has transacted the sale of a 37-acreparcel of land in the Riverside Countycity of Murrieta for the development of a new KaiserPermanente medical center. The deal was put together byLee & Associates-LA North/Ventura principal MikeTingus.
Tingus represented the seller, a private investment group, alongwith David Mudge, a senior vice president ofLee & Associates-Riverside, in the sale of thevacant land, which traded for $9.3 million.
“It is clear to all of us in real estate that hospitals havedeveloped an enormous appetite for expansion since the passage ofthe Affordable Care Act,” Tingus said, “and KaiserPermanente's decision to develop a new medical center reflectsthose expectations as well as the demographics and expectedpopulation growth in South Riverside County.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
