April 13, 2018
HPA Realty, Inc. acquired roughly 195,000 square feet of industrial and medical office space within Brea Imperial Centre for $47.3 million. The properties are located at 2727 and 2767 Imperial Highway, with one of the anchoring tenants as St. Jude Medical Center.
HPA’s James McGrade indicated the purchase was made through HPA’s Growth Fund, as a strategic investment in the future growth and planning of the hospital. The acquisition follows a recent purchase of another medical office building at 101 Laguna Road in Fullerton.
HPA represented the buyer, and will also serve as the leasing and property manager for the property. Voit Real Estate Services’ Liz Hurley and Ron Heim represented the undisclosed seller.
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