CNL Healthcare Properties recently closed on the acquisition of the Lee Hughes Medical Building located on the campus of the 500-bed Glendale Adventist Medical Center in Glendale. Built in 2008, the property features an elevated pedestrian ‘sky bridge’ that connects to the main hospital.
The four-story medical office building totals 67,547 square feet. Glendale Adventist Medical Center sold the property for 29.9 million, or approximately $443 per square foot.
The building is is currently 97% occupied with Adventist Health a major tenant. Please see CoStar COMP # 3132550 for more information on the transactions.
Article source: http://www.costar.com/News/Article/Lee-Hughes-Medical-Building-Acquired-by-CNL-Healthcare-Properties/164939?ref=/News/Article/Lee-Hughes-Medical-Building-Acquired-by-CNL-Healthcare-Properties/164939&src=rss