CBRE Negotiated $7.5 Million Sale of Medical Office Building in Folsom

CBRE facilitated the $7.5 million sale of 1743 Creekside Drive, a 20,086-sq.-ft. medical office building in Folsom, Calif. CBRE Investment Properties' Matt Post, Sammy Cemo and Anthony DeLorenzo represented the seller, a private investor, in the transaction.

“This attractive property is leased to an excellent set of tenants and situated in a high-end medical office park surrounded by other healthcare-related real estate and continuing care facilities,” said Post, a first vice president at CBRE. “This made it an enticing purchase for the new owner, especially as Folsom continues to grow south of Highway 50 in the Folsom Ranch development area.”

The fully leased Class A healthcare property is located within the nine-building Willow Creek Medical Office Park, adjacent to Dignity Health Hospital. Tenants at the property include CGT Global, Folsom Orthopedic Surgery and Sports Medicine, and Hanger Prosthetics & Orthotics West.

According to research analyzed by CBRE, the vacancy rate for medical office buildings in Folsom is 4.5%. In comparison, the vacancy rate for office buildings in the city under 25,000 sq. ft. is only 3.5%.