IE Business Daily Business news for the Inland Empire.
A medical office building in Upland has been sold for $8.8 million.
The three-story structure at 400 Mountain Ave. was sold by Harbor Associates LLC, a property investment company in Seal Beach, to a local medical user who was not identified, according to CBRE.
“This was an opportunity to acquire a high-image, turn-key medical/office building,” said Sammy Cemo, first vice president at CBRE, in a statement. “The ongoing medical office demand Upland has been experiencing [will allow the new owner] to lease the remainder of the building.”
CBRE represented Harbor Associates in the sale negotiations.
The 47,850-square-foot building is at the southeast corner of Arrow Highway and North Mountain Avenue, within Stewart Plaza. The previous owner invested more $1 million in capital improvements, according to the statement.
