Avison Young completes $4.45 million sale of a vacant two-building medical office center in Downey, CAJanuary 8, 2021
Los Angeles, CA – Avison Young announced today it has completed the $4.45 million sale of a vacant two-building medical office property totaling 15,213 square feet (sf) located at 8600 and 8630 Florence Avenue in Downey, CA.
Avison Young Principal Patrick Barnes who is located in the downtown Los Angeles office represented the seller, a Los Angeles-based private investor. The buyer, was an entity of The Whole Child (TWC), a non-profit organization established in 1957 by community members who saw a need for children in vulnerable communities and was represented by Gary Martinez with NAI Capital.
“TWC will use the larger two-story building which is just over 11,000 square feet, for its headquarters,” said Barnes. “The buyer was seeking a secured, freestanding building that would provide a safe environment for the children and this was a perfect fit.”
Built in 1969, the two-story property is situated on 1.1 acres and was formerly used as a dialysis center which vacated 11 months ago. The asset includes a reception area, lunchroom and restrooms. The property is 2.5 miles from PIH Health Downey Hospital and Kaiser Permanente Hospital.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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For more information:
- Darcie Giacchetto, Places Public Relations, 949.278.6224