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American Realty Nabs $96M Research Lab

SANTA CLARITA, CA—The investor buys the 226,000-square-foot Quest Diagnostics lab and office facility from Clarion Partners.

By Kelsi Maree Borland | Updated on January 06, 2015

SANTA CLARITA, CA—American Realty Capital Global Trust has purchased the lab and office facility occupied by Quest Diagnostics, one of the largest biomedical companies in the US, for $96 million from Clarion Partners. Located at 7027 Tourney Road in Santa Clarita, CA, the 226,000-square-foot property sits on 14 acres with direct access to the 5 freeway.

“Clarion originally purchased the property in approximately 2004, and at the time they planned a five to 10-year hold,” Mike McCann, managing director at HFF, tells GlobeSt.com. “Combining this with the current favorable real estate capital markets and with the lease having approximately 10 years of remaining original lease term, it made sense for Clarion to sell this property now.” McCann represented Clarion Partners in the sale of the property along with HFF managing director Ryan Gallagher, director Andrew Harper and associate director Nick Foster.

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