CBRE Arranges Sale of Medical Office Building in Long Beach for $6.6 Million

CBRE announced the sale of a medical office building in Long Beach, Calif., to a private buyer for $6.6 million.

CBRE’s Bill Maher, Anthony DeLorenzo, Bryan Johnson and Gary Stache represented the private seller. The buyer was represented by an outside firm.

Located at 200-202 W. Wardlow Road, the 8,691-sq.-ft., single-story building was originally constructed in 1964 and remodeled in 2017. The property will be converted from a medical building with operating rooms to an office building to accommodate the expansion needs of the buyer’s business. The property is adjacent to I-405, connecting Long Beach to the rest of Southern California.

“Freestanding, single-story buildings are ideal in today’s environment and are more desirable than ever since the onset of the pandemic,” said Mr. Maher. “Office properties with no elevators and no common corridors provide enhanced safety for employees and visitors alike.”