IE Business Daily Business news for the Inland Empire.
A medical office building in Moreno Valley has been sold for $6.9 million.
Centurion Fuchigami International Inc., a corporate database in Irvine, bought the single-story structure at 22555 Alessandro Blvd., according to a statement.
The building, which covers 14,600 square feet, was fully leased at the time of sale. Its primary tenant is DeVita, the dialysis provider.
CBRE represented the seller, a private investor whose name was not released.
“With the average lease term more than seven years, the new owner is going to enjoy a secure, stable cash flow with strong tenants that are loyal to their locations due to the cost of improvements and specific requirements,” said Gary Stache, executive vice president with CBRE and a member of the negotiating team, in the statement.
The property is near Riverside University Health System Medical Center and the planned Canyon Springs Healthcare Campus, which will be built on Riverside-Moreno Valley line. The building is also near Interstate 215 and Highway 60.
