Anchor Health Acquires Medical Office Building In Ventura County For $16.95M

Located in Ventura County, the closed transaction involved the sale of a medical office building at 3180 Willow Ln. The property, comprising approximately 29,609 square feet, was sold for a total of $16,950,000. With a price per square foot of $572, the transaction achieved a 4.90% capitalization rate.

Summary of transaction details:

• Property Type: Medical Office
• Sale Price: $16,950,000
• Square Footage: 29,609
• Price per Square Foot: $572
• Capitalization Rate: 4.90%
• Address: 3180 Willow Ln.
• Market: Ventura County

During the transaction, Anchor Health, represented by Ilya Hvostikov, purchased the medical office building from Dale Ryan. The buyer was assisted by broker representatives James DeBuiser and Gary Cohen from Marcus & Millichap. The property was off-campus and featured a multi-tenant setup. It boasted a high occupancy rate, with 97% of the space leased. The weighted average lease term (WALT) for the tenants was 5.7 years. A notable recent renovation worth $2 million further enhanced the property's appeal.