Search
 

Medical Firm Expands in Office Park

MISSION VIEJO, CA-Demand for medical office space continues to grow despite the recession, brokers say, making the medical field one of the two strongest sectors in the Orange County office market.

By Bob Howard | Updated on October 09, 2002

MISSION VIEJO, CA-Community Orthopedic Medical Group has acquired its third office building in the Crown Corporate Center, a transaction that illustrates what brokers say is an increased demand for office space among medical companies in Orange County.

Community Orthopedic bought the two-story, 8,200-sf concrete tilt-up building at 26471 Crown Valley Parkway for $1.55 million from a private investor who had owned it for about five years, according to George Economos of NAI Capital Commercial. Economos represented both sides in the transaction along with Steve Economos, also of NAI.

Community’s new facility is in the 11-building Crown Corporate Center at Crown Valley and Marguerite parkways and will serve as a physical therapy office for the company. George Economos tells GlobeSt.com that the former tenant has moved out and the new owner will move in after tenant improvements are finished.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.