CYPRESS, CALIF. — Grubb & Ellis Healthcare REIT has purchased 5995 Plaza Drive, a five-story Class A office building located in Cypress. Built in 1986, the property consists of 104,000 square feet of gross leaseable area and is situated on nearly 5 acres. The property is leased to United HealthCare Services Inc., a provider of network-based healthcare and well-being services for mid-sized and small employers, as well as individuals and families. Acquired from an unaffiliated institutional investor, the building offers a dual-entrance 445-space parking lot and close proximity to interstates 405 and 605, and Highway 22. Grubb & Ellis Healthcare REIT financed the acquisition through utilization of its line of credit and from funds raised through its initial public offering.
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