LOS ANGELES-A medical office building at 10630 Santa Monica Blvd. has been sold for just over $15 million, or $847 per square foot. The buyer was a local investment group. Parnell Medical Plaza is a 17,825-square foot medical office building located three blocks East of Overland Ave. The property was a build-to-suit for DaVita Inc., which has occupied the property since its development in 2008 and leased the building through 2018.

Lynwood Fields of Madison Partners and Gary Weiss of L.A. Realty Partners represented the seller, 10630 Santa Monica Blvd. LLC, in the transaction. The buyer was a joint venture of SMSH LLC, Jaesun Properties LLC and Royal Blue LLC, represented by Thomas Kim of Golden Tree Realty. The widely-marketed offering allegedly garnered strong interest, according to Fields. “There is a lot of capital looking for well-positioned assets in prime areas. The competition for this asset was fierce, with a broad buyer pool consisting of investors and syndicators.”

As previously reported by GlobeSt.com, the Affordable Health Care Act is driving vigorous interest in the medical office market.