Foothill Cardiology Medical Group Purchases Medical Office In Pasadena For $11.3 Million

A multi-tenant medical office property located at 1038-1044 South Fair Oaks Avenue in Pasadena was sold for $11,298,000. The property spans 20,079 square feet and sits on a 35,461 square foot lot, resulting in a price per square foot of $563 and a price per lot square foot of $319. The building is situated in the Fair Oaks medical corridor and houses Acuity Eye Group and Pasadena Advanced Surgery Institute, making it a valuable asset in the medical sector.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $11,298,000
• Square Footage: 20,079 SF
• Lot Size: 35,461 SF
• Price per Square Foot: $563
• Price per Lot Square Foot: $319
• Buyer: Foothill Cardiology Medical Group
• Broker Representatives: Guillermo Olaiz, John Archibald, Rene Soto & Tom Sexton - NAI Capital Commercial

The sale was facilitated by NAI Capital Commercial, with Executive VPs John S. Archibald and Guillermo Olaiz representing the seller. Senior VP Rene Soto and Senior Associate Tom Sexton represented the buyer, Foothill Cardiology Medical Group, in this transaction.