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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
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/
Property Facts
Amenities
- Atrium
- Bus Line
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Health Care and Social Assistance
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Jan 0000
Optum, founded in 2011 and structured as a subsidiary of UnitedHealth Group, is headquartered in Eden Prairie, Minnesota. As a global health services and innovation company, Optum operates through three main business units—OptumHealth, OptumInsight, and OptumRx—offering healthcare delivery, pharmacy benefit management, and technology-enabled analytics to healthcare providers, payers, governments, employers, and individuals. Its services span clinical care, data-driven analytics, population health management, and financial operations. Optum served over four million patients under value-based care arrangements in 2023 and employed more than 310,000 people worldwide as of November 2025. The company achieved revenue milestones surpassing $100 billion in 2019 and $63.9 billion in Q3 2023. UnitedHealth Group, trading under the ticker symbol NYSE: UNH, is relocating its corporate headquarters to Optum's Eden Prairie campus, consolidating space from its Minnetonka site by 2024.
- Therapy
- Health Care and Social Assistance
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Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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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 |
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.
Property Taxes
| Parcel Number | 1045-571-44 | Improvements Assessment | $4,036,752 |
| Land Assessment | $2,913,120 | Total Assessment | $6,949,872 |
Property Taxes
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Magnolia Centre | 299 W Foothill Blvd
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