Woodbridge Square Medical

Woodbridge Square Medical 4980 Barranca Parkway
Irvine, CA 92604

  • Unpriced

    Asking Price

  • Multi

    Tenancy

  • 94%

    Occupancy

  • 4.06 Years

    Walt

  • Healthcare

    Property Type

  • 36,104

    Sq Feet

Offering Summary

Offers Due 12/7/2021

Address

  • 4980 Barranca Parkway
    Irvine, CA 92604

Pricing

  • Asking PriceUnpriced
  • WALT4.06 Years

Details

  • Property TypeHealthcare
  • Listing StatusOffers Due 12/7/2021
  • Square Feet36,104
  • Occupancy94%
  • Year Built2005
  • Year Renovated2021
  • Building(s)1
  • Stories2
  • TenancyMultiple

Address

  • 4980 Barranca Parkway
    CA 92604

Pricing

  • Asking PriceUnpriced
  • WALT4.06 Years

Details

  • Property TypeHealthcare
  • Listing StatusOffers Due 12/7/2021
  • Square Feet36,104
  • Occupancy94%
  • Year Built2005
  • Year Renovated2021
  • Building(s)1
  • Stories2
  • TenancyMultiple

Description

Newmark is pleased to present the opportunity to acquire the fee-simple interest in Woodbridge Square Medical (the Property), a 94% leased multi-tenant medical office building with 4.06 years of weighted average lease term in the heart of the Barranca Medical Corridor of Irvine, California.

The two-story, 36,104-square-foot medical office building was delivered in 2005 and renovated in 2021. The Property is located just under two miles from two major hospitals – Hoag Hospital Irvine (154 beds) and Kaiser Permanente Irvine Medical Center (150 beds). The Property is currently 94% leased to 18 medical, dental, and laboratory tenants with unique synergies that result in high tenant retention.

The Barranca Medical Corridor has performed exceptionally well over the past 10 years with medical office vacancy consistently hovering around five percent. The Property is one of the newest buildings in the submarket and is well-positioned to capture new entrants into the market. Demand for medical office in Irvine is expected to outpace supply, putting upward pressure on rents.

The offering presents a rare opportunity to acquire a recently constructed medical asset in one of the best performing healthcare corridors of Orange County with close proximity to two major hospitals.

Deal Team

Sean Fulp

Sean Fulp

Executive Managing Director

310-407-6596 sean.fulp@nmrk.com

CA RE Lic. #01389064

Mark Schuessler

Mark Schuessler

Managing Director

310-201-2075 mark.schuessler@nmrk.com

CA RE Lic. #02033871

Ryan Plummer

Ryan Plummer

Managing Director

310-407-6570 ryan.plummer@nmrk.com

CA RE Lic. #01765854

John Scruggs

John Scruggs

Managing Director

949-608-2102 John.Scruggs@nmrk.com

CA RE Lic. #01796826