Kaiser Foundation Health Plan Acquires Medical Office Building In Santa Clarita For $67M

Kaiser Foundation Health Plan has purchased a 223,900-square-foot medical office building located at 27027 Tourney Road in Valencia, Santa Clarita. The property was acquired from Global Net Lease for a total of $67 million, which is a 30% discount from its previous purchase price in 2014. This transaction reflects the current trend in Southern California, where companies like Kaiser are opting to buy office space instead of renting. The decision to purchase aligns with Kaiser's recent expensive contract negotiations with healthcare unions.

Summary of transaction details

• Property Type: Medical Office
• Transaction Amount: $67,000,000
• Square Footage: 223,900
• Price Per Square Foot: $299
• Buyer: Greg Adams - Kaiser Foundation Health Plan
• Seller: Jim Nelson - Global Net Lease

This transaction was brokered by the representatives of the involved parties, Greg Adams from Kaiser Foundation Health Plan and Jim Nelson from Global Net Lease.