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CBRE has successfully facilitated the sale of Sutter Medical Plaza, a 143,210-square-foot medical outpatient building located at 1625 Stockton Blvd. in Sacramento. The property was acquired by a fund sponsored by Hines for an undisclosed amount.
The CBRE U.S. Healthcare Capital Markets team, consisting of Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof,Trent Jemmett and Jesse Greshin worked closely with Jason Goff from CBRE’s Sacramento Advisory and Transaction team to serve as exclusive advisors to the seller.
Built in 2009 by Boulder Associates – a leading healthcare design and architecture firm – Sutter Medical Plaza was specifically tailored to meet the needs of its tenant,Sutter Health. With their recent lease renewal,the two-story facility continues to cater effectivelytothe growing pediatric population in Sacramento.
Accordingto Bodnar,”This well-designed facility caters perfectlytothe growing pediatric population inSacramento.” He also added that “The investor sought out this top-tier medical facility leased long-termbya creditworthy tenant with minimal management responsibilities.”
Strategically situated withinSacramento’sMedical Triangle,Sutter Medical Plaza enjoys close proximitytoSutterMedicalCenter (523 beds), Mercy General Hospital (419 beds)andUC Davis Medical Center(646 beds). This prime location further adds value to the property making it an attractive investment opportunity for Hines.
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