CBRE Sells Atlantic Medical Center In Long Beach For $29M

The Atlantic Medical Center, a purpose-built medical office building in Long Beach, has been sold by CBRE to a private buyer for $29 million. The four-story building, located at 701 East 28th Street near MemorialCare Long Beach Medical Center, sits on 3.04 acres of land. With a total square footage of 68,845, the building houses a variety of clinical medical services and boasts high occupancy, making it an attractive investment. The sale price translates to a price per square foot of $421.

Summary of transation details

• Property Type: Medical Office
• Transaction Amount: $29,000,000
• Address: 701 East 28th Street
• Market: Long Beach
• Acres: 3.04

CBRE represented the seller, Jamison Properties, in this transaction. The brokers involved in the deal were Michael Longo, Mark Shaffer, Todd Tydlaska, Sean Sullivan, and Anthony Delorenzo, all from CBRE. Their expertise and negotiation skills contributed to the successful sale of the Atlantic Medical Center.