Company Selling, then Leasing Back its Office Space

A chain of medical offices in the Inland Empire is selling its office space to private investors, then leasing that space back in attempt to cut costs.

Inland Psychiatric Medical Group Inc. began selling its 10 Inland Empire properties about two years ago, and is expected to sell the last one, in Hesperia, by the end of this month, said Spencer Hull, senior vice president with Coldwell Banker Commercial in Redlands.

The properties average about 3,000 square feet. Sale prices lease terms were not released.

In addition to its Inland Empire office properties, Inland Psychiatric sold and leased back an office in Mission Viejo, Hull said.