CBRE Capital Markets, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 2600 Redondo Avenue, a six-story, three-tenant, 100%-leased, 153,172-square-foot medical office building located on 5.71 acres in suburban Long Beach, CA. Investors stand to benefit from an interconnected “sticky” medical rent roll providing 66% investment-grade credit tenancy with a compelling mark-to-market opportunity upon tenant rollover, with in-place rents 23% below market. The essential-use tenants face high barriers to exit, with significant ongoing investment into their spaces, and hard to get permits in-place.
The Seller is offering the Property with an opportunity to assume an attractive $37 million, 3.87% interest-only loan, maturing in July 2026.