REBusinessOnline

GPI Cos. Purchases 50,986 SF Medical Office Building in Burbank for $23.9M

2701-W-Alameda-Ave-Burbank-CA

The 50,986-square-foot medical office building at 2701 W. Alameda Ave. in Burbank, Calif., was 90.4 percent occupied at the time of sale.

BURBANK, CALIF. — GPI Cos. has acquired a medical office building, located at 2701 W. Alameda Ave. in Burbank, from a private real estate investor for $23.9 million, or $468 per square foot.

The 50,986-square-foot building was 90.4 percent leased to 22 medical tenants, with most of the space occupied by doctors on staff at Providence Saint Joseph Medical Center.

Mark Shaffer, Anthony DeLorenzo, Chris Bodnar, Lee Asher, Gerard Poutier and Cody Chiarella of CBRE represented the seller in the deal.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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