Log In/Sign Up
Your email has been sent.
Magnolia Centre 299 W Foothill Blvd 36,870 SF 96% Leased Office Building Upland, CA 91786 $8,880,000 ($240.85/SF)
Investment Highlights
- 36,870 SF Medical/Professional Office Investment; 95% Occupied Investment w/ Additional Cell Tower Income
- Staggered Lease Expirations Provides for Stable Income; Well Priced Below Replacement Cost at $221/SF
- Dense Area w/ Over 380,000 Population and Over $115K Average HH Income within 5 Mile Radius
- Almost 50% of Building Leased to 4 Medical Tenants (2 Publicly Traded) w/ Average Tenure of 21 years
- Dynamic Location within Iconic Route 66 Retail Corridor on Foothill Boulevard - Over 54,000 Vehicle Trips Daily
- 1.5 Mile from San Antonio Regional Hospital - 370,000 SF Acute-Care w/ 363 Licensed Beds
Executive Summary
NAI Capital, as exclusive advisors to ownership, is proud to present for sale the Magnolia Centre. This is a 95% occupied multi-tenant medical and professional office investment opportunity located in the city of Upland within the iconic Route 66. The 1987 construction building is approximately 36,870 square feet and is situated on a 2.16-acre parcel. The lot offers ample parking including surface and covered parking at a ratio of 4.6 per 1,000. The two-story building is elevator served and well maintained.
This asset consists of 12 tenants, 2 cell towers and 1 move-in ready vacancy of 1,564 square feet. Half of the occupied spaces are leased to medical uses who have been operating in the building between 10 years to 27 years. The tenancy is ideal for an investor looking for a secure investment with dependable cashflow.
The Magnolia Centre is located on the Route 66 retail corridor along Foothill Boulevard just south of the 210 Freeway and north of the 10 Freeway. This 4-mile stretch is a dynamic area offering a mix of commercial, retail, and residential, making it an attractive investment opportunity. Major anchor tenants include: Vons, Sprouts, Stater Bros, Amazon Fresh, Walmart Bolero, 24 Hour Fitness, Burlington, Ross, Lowe's and more.
This investment is just 1.5 miles from the San Antonio Regional Hospital ("SARH"). As a full service acute medical center, SARH offers over 370,000 SF of facilities and 363 licensed beds. Founded in 1907, SARH offers a comprehensive range of general medical and surgical services, along with cardiac care, cancer care, orthopedics, neurosciences, women’s health, maternity and neonatal care, and emergency services. SARH also owns several satellite facilities throughout the surrounding community including Rancho San Antonio Medical Plaza in the city of Rancho Cucamonga, Sierra San Antonio Medical Plaza in the city of Fontana, and Eastvale San Antonio Medical Plaza in the city of Eastvale, effectively giving them a regional monopoly
https://www.sarh.org/
This asset consists of 12 tenants, 2 cell towers and 1 move-in ready vacancy of 1,564 square feet. Half of the occupied spaces are leased to medical uses who have been operating in the building between 10 years to 27 years. The tenancy is ideal for an investor looking for a secure investment with dependable cashflow.
The Magnolia Centre is located on the Route 66 retail corridor along Foothill Boulevard just south of the 210 Freeway and north of the 10 Freeway. This 4-mile stretch is a dynamic area offering a mix of commercial, retail, and residential, making it an attractive investment opportunity. Major anchor tenants include: Vons, Sprouts, Stater Bros, Amazon Fresh, Walmart Bolero, 24 Hour Fitness, Burlington, Ross, Lowe's and more.
This investment is just 1.5 miles from the San Antonio Regional Hospital ("SARH"). As a full service acute medical center, SARH offers over 370,000 SF of facilities and 363 licensed beds. Founded in 1907, SARH offers a comprehensive range of general medical and surgical services, along with cardiac care, cancer care, orthopedics, neurosciences, women’s health, maternity and neonatal care, and emergency services. SARH also owns several satellite facilities throughout the surrounding community including Rancho San Antonio Medical Plaza in the city of Rancho Cucamonga, Sierra San Antonio Medical Plaza in the city of Fontana, and Eastvale San Antonio Medical Plaza in the city of Eastvale, effectively giving them a regional monopoly
https://www.sarh.org/
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
36,870 SF
Building Class
B
Year Built/Renovated
1986/2012
Price
$8,880,000
Price Per SF
$240.85
Percent Leased
96%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
18,435 SF
Slab To Slab
12’
Building FAR
0.39
Lot Size
2.17 AC
Zoning
C/R-MU, Upland
Parking
170 Spaces (4.61 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Bus Line
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Health Care and Social Assistance
- -
- -
-
Jan 0000
Optum began in 2011 when UnitedHealth Group combined its pharmacy and care services. The company focuses on improving healthcare through technology and data analytics. Optum operates three main businesses: OptumHealth provides care delivery, OptumInsight offers data analytics, and OptumRx manages pharmacy services. These divisions serve various clients, including government agencies and healthcare providers. Optum has grown through acquisitions like Surgical Care Affiliates and Advisory Board Company. This expansion helps them offer more integrated healthcare solutions.%[2-2]%%[4-4]%%[5-5]%
- Therapy
- Health Care and Social Assistance
- -
- -
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Health Care and Social Assistance | - | - | Jan 0000 | ||
| Therapy | Health Care and Social Assistance | - | - | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Large open work area, two private offices, lunch/break room w/ storage area.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 240 | 1,564 SF | Office | Full Build-Out | Now |
2nd Fl-Ste 240
| Size |
| 1,564 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1 of 8
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Fl-Ste 240
| Size | 1,564 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Large open work area, two private offices, lunch/break room w/ storage area.
Walk Score®
Very Walkable (70)
Property Taxes
| Parcel Number | 1045-571-44 | Improvements Assessment | $4,036,752 |
| Land Assessment | $2,913,120 | Total Assessment | $6,949,872 |
Property Taxes
Parcel Number
1045-571-44
Land Assessment
$2,913,120
Improvements Assessment
$4,036,752
Total Assessment
$6,949,872
1 of 33
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Magnolia Centre | 299 W Foothill Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.