June 1, 2017 Comments Off on St. Joseph Health System Building Acquired for $59M Views: 1653 California News, Healthcare News, Medical Office Building, Orange County

St. Joseph Health System Building Acquired for $59M

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NGKF Capital Markets completed the $58.9-million sale of 200 Center, a 191,556-square-foot Class A high-rise office building located in Downtown Anaheim, CA. The asset is occupied entirely by St. Joseph Health System, which has a long-term lease with 10 years remaining.

NGKF Capital Markets’ Kevin Shannon, Paul Jones, Ken White and Blake Bokosky represented the institutional seller, a joint venture between Mariner Real Estate Management and PRES Companies. The asset was bought by an undisclosed SoCal 1031 exchange buyer.

Located at 200 W. Center Street Promenade, 200 Center is situated on just over two acres and consists of an eight-story office building and a six-level parking structure. St. Joseph Health System consolidated and relocated to the property from numerous locations throughout Orange County in 2015.

NGKF’s David Milestone and Brett Green executed the debt on behalf of the buyer.

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