Calabasas, California-based Agora Realty & Management acquired a 75,000-square-foot medical office building in Tarzana, California, for $30 million.
The three-story Tarzana Medical Plaza is 90% occupied with tenants that include Providence Healthcare Systems, Cedars-Sinai Medical Care and Unilab Corp.
Interior and exterior changes will be made at the property. The interior renovation will include upgraded elevators, modern corridor finishes, lighting upgrades and expanded and renovated lobby areas. Solar panels will be added.
Agora’s portfolio encompasses more than 2 million square feet of retail space in the western U.S. with several new, ground-up developments in various phases of development totaling more than 330,000 square feet of space in Nevada.
According to the LevinPro HC database, this was the 175th Medical Office Building transaction of 2022. This compares with 103 Medical Office Building deals reported between January 1, 2021, through October 18, 2021.
