Warner Village Medical Center Trades

FOUNTAIN VALLEY, CA-Warner International Network LLC has acquired the33,070-sf Warmer Village Medical Center from RJM Holdings Inc. for $7.3 million in a deal that closes at a cap rate just under 6%, according to Marcus & Millichap. The seller had owned the property since 2002, according to Kevin McNeil and Matthew Kipp of Marcus & Millichap, who represented both the buyer and the seller in the transaction.

The Warner Village Medical building, which is at 10900 W. Warner Ave., is one of a number of medical office facilities in Orange County that have traded this year. One of the largest deals, reported in the first quarter of this year on GlobeSt.com, also involved Marcus & Millichap and was one of the largest medical office portfolios to trade in the region in some time.

In that deal, Jamison Services of Los Angeles added 198,000 sf of medical office buildings with the $30.3-million acquisition of a five-building portfolio that sold in 10 days for a record cap rate, according to Marcus & Millichap’s John Smelter of the company’s San Diego office. Smelter, who brokered the deal, told GlobeSt.com at the time that the cap rate of 5.8% cap rate was believed to be a record for a multi-tenant non-credit medical office building sale.