The MPIRES group is tracking a handful of excellent investment properties for sale:
1. West Los Angeles: 94,500 square foot building, 96% occupied by professional office tenants and medical tenants. 1990's construction, class A glass building with an excellent address and street exposure. 6% cap rate at $27,000,000. This is a solid investment property with future rent growth in a strong market.
2. North San Francisco Bay Area: 100,000 square foot single tenant medical building. 6.75% cap rate. Highly rated credit tenant in place. Long term lease. Modern building in growth location. $21,000,000.
3. West Los Angeles: single tenant NNN investment property with highly rated credit medical tenant. 6.5% cap rate, $14,000,000 price.
All three opportunities represent solid 1031 exchange replacement properties. With apartment building cap rates selling in the 4-5% range, these properties provide an exchanger with higher cash flow, lower management and modern buildings.
