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Agora Realty Buys 75,000 SF Medical Office Building in Tarzana, California for $30M

5525-Etiwanda-Ave-Tarzana-CA

Providence Healthcare Systems, Cedars-Sinai Medical Care and Unilab Corp. are tenants at Tarzana Medical Plaza, a 75,000-square-foot medical office building in Tarzana, Calif.

TARZANA, CALIF. — Calabasas-based Agora Realty & Management has purchased Tarzana Medical Plaza, a three-story medical office building located at 5525 Etiwanda Ave. in Tarzana. An undisclosed seller sold the asset for $30 million in an off-market deal.

At the time of sale, the 75,000-square-foot medical office building was 90 percent occupied. Current tenants include Providence Healthcare Systems, Cedars-Sinai Medical Care and Unilab Corp.

Agora plans to complete an interior and exterior renovation on the property. Interior renovations will include upgraded elevator cabs, modern corridor finishes, lighting upgrades, and expanded and renovated lobby areas with enhanced wayfinding. The buyer also plans to add solar panels to reduce operating costs.

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