A Santa Monica medical office has been sold to a Carpinteria-based investment company for more than $54 million, according to developers.
Montecito Medical finalized a deal to purchase UCLA Health's Santa Monica Medical Office for approximately $1,060 per square foot, said Chris Conk, the company's acquisitions coordinator.
"Obviously UCLA is such a class act, probably one of the best health providers in the country," he said. "They're just a great tenant, and the location is unbelievable."
Conk said Montecito has long-term plans to retain the center, formerly owned by Nautilus Group Inc., as a medical facility.
According to Jennifer Gonzales, director of nursing operations at UCLA Health's Surgery Center, the 50,000-square-foot facility is home to a radiation oncology unit, outpatient surgery rooms and various clinical offices for the UCLA Department of Medicine.
The building, UCLA Health's first to meet the LEED Gold designation for sustainability, also claims the first automated parking system on the West Coast.
"This is probably the nicest deal we've ever acquired," Conk said.
