New Life Rehabilitation has paid $1.4 million for the property, which was formerly occupied by Union Bank of California. Encompassing 15,431-sf, the retail facility stands at 17122 Beach Blvd.
The new owner, which will use a portion of the building for its physical therapy business, has some changes planned for the facility. New Life Rehabilitation plans to install an indoor pool here, since much of its physical therapy sessions involve aquatics.
Kathy Fuller of Voit Commercial Brokerage's Irvine office acted on behalf of New Life Rehabilitation. The seller, Union Bank of California, was represented by Charles Dunn Co. and NAI Capital.
The deal follows on the heels of a Los Alamitos retail transaction, in which a 23,100-sf shopping complex was acquired by a private investor. The property, which is located at 10877-10911 Los Alamitos Blvd., fetched $3.4 million for the seller, Continental Investment Group.
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