Healthcare Property Advisors Buys Brea, CA Office Campus for $80M

Healthcare Property Advisors (HPA) acquired Imperial Mariner office campus in Brea, CA from AdelFi Credit Union for $80 million. The four-building office and medical office campus totals 288,189 square feet

Imperial Mariner consists of four buildings completed between 2002 and 2008. The complex is currently 89% leased to 15 companies, including St. Jude Heritage Medical Group, NCH Management, EMart America and AdelFi, which will continue to occupy a portion of the campus under a short-term leaseback.

The property is located at 915 – 975 West Imperial Highway & 950 Mariner St. in Brea, California. The 17.4-acre site has underlining zoning that allows for further medical office or future redevelopment into industrial.

JLL represented the seller and procured the buyer. JLL also advised HPA on a $44 million acquisition loan with Farmers & Merchants Bank. JLL’s Capital Markets team representing the seller was led by Senior Director Blake Bokosky, Managing Director John Chun, Senior Managing Director Louis Tomaselli and Analyst John Andreasen.

This is the team’s fourth office building sale in the city of Brea in the past eighteen months, having sold 330 Lambert for $10.65 million earlier this year, as well as Brea Corporate Plaza for $27.55 million and 2727 Imperial for $35.4 million in 2021.

JLL’s Debt Advisory team representing the borrower, consisted of Managing Director John Chun, Associate Sam Godfrey and Director Anthony Sardo.