REDLANDS, CALIF. — Rancho Santa Margarita, Calif.-based Cypress West Partners has completed the disposition of Park Plaza Medical Campus, a medical office complex located in Redlands. An undisclosed buyer acquired the asset for $18.3 million.
Totaling 53,325 square feet spread across three outpatient medical office buildings, Park Plaza Medical Campus is located at 1776, 1782 and 1790 W. Park Ave. Loma Linda University Health Care occupies 99 percent of the property. Loma Linda University Health Care is an academic medical center that operates 1,077 beds across six hospital. The healthcare provider utilizes the Park Plaza buildings for a variety of specialty practices, including its Behavioral Medical Center program.
Chris Bodnar, Lee Asher, Ryan Lindsley and Jordan Selbiger of CBRE’s U.S. Healthcare and Life Sciences Capital Markets partnered with Anthony DeLorenzo, Gary Stache, Sammy Cemo and Doug Mack of CBRE to represent the seller in the transaction.