Medical office building fetches $3.8 million

A medical office building in Montclair has sold for $3.8 million.

Holt Medical Center at 5153 Holt Blvd. was sold by a private investor in Orange County to a buyer who was represented by an outside broker, CBRE announced.

Both parties wished to remain anonymous.

Built in 2006, the 12,453-square-foot building sits on one acre. It was fully leased to seven tenants at the time of sale, with an average of five years remaining on their leases.

“Holt Medical Center is a very stable asset in a strong medical office market,” said Sammy Cemo, vice president with CBRE and a member of the brokerage team that negotiated the sale. “The property is strategically located within a 15-minute drive from six major medical hospitals.”