CBRE facilitated the $5-million sale of 1419 Superior Ave., an 8,935-square-foot medical office building in Newport Beach, to a local owner-user. The firm’s Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su represented the seller, Equity Enterprises LTD.
“Medical office demand has continued to perform exceptionally well with the limited inventory and healthcare expansion occurring in Orange County,” said Cemo. “We sourced multiple offers but ultimately selected an owner-user that benefited from the Hoag proximity and the incredible Newport Beach demographics.”
Situated in a prime location across from Hoag Newport Beach, a 498-bed acute care hospital, the property includes zoning that supports medical office use and is currently 62% leased to four tenants. In addition to its location near major healthcare facilities, 1419 Superior also benefits from a variety of retail and lifestyle amenities, including Lido Village, Triangle Square, Newport Beach Peninsula and the beaches of Newport Beach.
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