IRVINE, CA—Newmark recently revealed that it had facilitated the sale of Newport Harbor Medical Plaza in Newport Beach, CA for $41 million, approximately $1,367 per square foot. The class A, three-story medical office building, is 100% leased to USC's Keck School of Medicine.
Newmark's executive managing directors Sean Fulp and Garth Hogan and managing directors John Scruggs, Mark Schuessler, and Ryan Plummer represented the seller, Advanced Medical Properties, a Newport Beach-based and physician-owned development firm. The Newmark team originally procured the tenant and negotiated the long-term lease with USC in early 2020.
"This was the culmination of a long journey that we have been on with the owner," says Scruggs in a prepared statement. "We were thrilled to land a tenant as strong as USC and then be able to execute on the sale at record pricing."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
