CBRE Announces Sale of Fully Leased Medical Office in Moreno Valley, Calif. for $7 Million

06 May 2020

Moreno-Valley-Medical-Office

Los Angeles - CBRE announced that private investor Centurion Fuchigami International Inc. bought a 14,616 square-foot medical office property in Moreno Valley, Calif. for $6.99 million.

CBRE’s Sammy Cemo, Gary Stache, Anthony DeLorenzo, Doug Mack and Bryan Johnson represented the seller, a private investor. The buyer was represented by Terry Okuyama of Berkshire Hathaway.

Located at 22555 Alessandro Boulevard, the property is a single-story, 100 percent leased medical office building. The primary tenant is dialysis provider DaVita.
“With the average lease term more than seven years, the new owner is going to enjoy a secure, stable cash flow with strong tenants that are loyal to their locations due to the cost of improvements and specific requirements,” said Stache.

Added Cemo, “The ease of management and the passive income stream for years to come makes this a perfect investment. Strong demographics and tenant demand will continue to support the value of this asset long term.”

The property is located 10 minutes from Riverside University Health System Medical Center and in proximity to the planned Canyon Springs Healthcare Campus on the boarder of Riverside and Moreno Valley. The property also sits near Interstate 215 & Highway 60.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.