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Institutional Property Advisors Completes Medical Office Building Sale in Northern California

January 24, 2022
REDDING, Calif., Jan.24, 2022 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of The Shasta Orthopedics Medical Office Building, a 41,191 square-foot building in Redding, California.

“It was a pleasure to represent and work alongside our seller on this transaction. Shasta Orthopedics has grown to become the largest Orthopedic and sports medicine practice in the North State region of California,” said Anthony Lunceford, IPA senior managing director investments. “Well located, the subject property is positioned in downtown Redding and is within a two-mile radius of Shasta Regional Medical Center, Mercy Medical Center Redding, and Vibra Hospital of Northern California, with strong surrounding demographics.” Lunceford, Joe Massa and Michael Grenaway represented the seller, and procured the buyer.

“As part of this sale, Shasta Orthopedics has signed a long term absolute NNN lease at closing, providing the new owners with a continued revenue stream from a strong tenant with a great reputation and growing business,” added Grenaway.

Adam Christofferson is Marcus & Millichap’s broker of record in California.

 

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About Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.

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