NAI Capital completed the $14.5 million sale of Tustin Medical Arts Center

April 30, 2015

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Tustin, CA – April 30, 2015 – (RealEstateRama) — NAI Capital completed the $14.5 million sale of Tustin Medical Arts Center in Tustin, Calif., on behalf of Klingbeil Medical Partners. The seller was a real estate investment firm specializing in medical office reposition opportunities. Klingbeil purchased the property through NAI Capital in 2008.<span id="more-3286"></span></p> <p>The Tustin Medical Arts Center includes four buildings located at 13362, 13372, 13422 Newport Ave and 1101 Bryan Ave. The project was approximately 92 percent occupied at the time of the sale. The capitalization rate equated to approximately 5.75 percent underscoring the asset’s excellent location, great tenant mix and desirability of this product type with investors.</p> <p>A significant capital improvement investment was made into the property which included new signage, landscaping, HVAC upgrades and ADA accessibility. The property is surrounded by many amenities like Tustin Village Center and Larwin Square Shopping Center. The Tustin Medical Arts Center has outstanding demographics; 571,369 people live within a 5 mile radius with a $98,987 average household income.</p> <p>John Bosko and Bob Bush, both senior vice presidents with NAI Capital cooperatively represented Klingbeil Medical Partners in the sale. “We had tremendous interest after putting the property on the market, it was under contract with a qualified buyer within two weeks,” said Senior Vice President John Bosko.</p> <p><strong>About NAI Capital</strong></p> <p>NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California member of NAI Global, a premier real estate service network in 55 countries with 375 local offices and 6,700 local market leaders spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.</p> <p>NAI Capital Brokerage CA BRE #00806840.</p> <p>To learn more, visit www.naicapital.com</p> <p>Press Contact:<br /> J.C. Casillas<br /> 818.913.2433<br /> jcasillas (at) naicapital (dot) com<br />+</p>  <script async src="//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script><div class="td-g-rec td-g-rec-id-content_bottom"> <script type="text/javascript"> var td_screen_width = document.body.clientWidth; if ( td_screen_width >= 1024 ) { /* large monitors */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:468px;height:60px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); (adsbygoogle = window.adsbygoogle || []).push({}); } if ( td_screen_width >= 768 && td_screen_width < 1024 ) { /* portrait tablets */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:468px;height:60px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); (adsbygoogle = window.adsbygoogle || []).push({}); } if ( td_screen_width < 768 ) { /* Phones */ document.write('<ins class="adsbygoogle" style="display:inline-block;width:300px;height:250px" data-ad-client="ca-pub-4765318478912403" data-ad-slot="5509231618"></ins>'); 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td_module_no_thumb"> <div class="item-details"> <h3 class="entry-title td-module-title"><a href="https://california.realestaterama.com/mccarthy-introduces-legislation-to-repurpose-high-speed-rail-funding-to-water-infrastructure-projects-ID09929.html" rel="bookmark" title="McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure Projects">McCarthy Introduces Legislation to Repurpose High-Speed Rail Funding to Water Infrastructure...</a></h3> <div class="meta-info"> <div class="td-post-author-name"> <span>- </span> <a href="https://california.realestaterama.com/author/congressman-kevin-mccarthy">Congressman Kevin McCarthy</a> <span>- </span> </div> <div class="td-post-date"><time class="entry-date updated td-module-date" datetime="2019-04-01T10:20:36+00:00" >April 1, 2019</time></div> </div> </div> </div> </div> </div></div> <aside class="widget widget_archive"><div class="block-title"><span>Government & Nonprofit Press Release Archive</span></div> 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