Spectrum announces 2 sales totaling $18.4 million

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News release 

Spectrum Commercial Real Estate Inc. recently completed a pair of local commercial real estate transactions totaling $18.4 million, the company announced in a pair of prepared statements. 

Senior Vice President Matt Sreden of Spectrum announced the off-market sale of a landmark office building located at 25101 The Old Road, Santa Clarita. This two-story, state-of-the-art office building, which can be seen from Interstate 5, is located along the major thoroughfare of The Old Road and boasts 23,388 square feet of office space.  

The facility, built in 1998, is comprised of a diverse mix of 90 private offices, features contemporary architecture, and is illuminated with plenty of natural sunlight. Common areas and individual suites alike share panoramic views of the Santa Clarita Valley and the local Towsley Canyon Hills.   

The buyer, 360 Executive Suites SCV, has now acquired five properties in Santa Clarita, offering a total of 49,130 square feet, which amounts to 164 private suites throughout the SCV. The new owner plans to modernize the building to further accommodate the increased demand for executive suite space. The building sold for $7.1 million with Sreden representing the buyer in the transaction. 

Spectrum’s Yair Haimoff, Randy Cude, Andrew Ghassemi and Sreden announced the recent sale of the Santa Clarita Medical Center, a high-image medical/dental building. Located at 23206 Lyons Ave., the property is an approximately 37,759-square-foot, two-story medical/dental building situated on an approximately 65,122-square-foot parcel.   

The property features a diverse mix of 24 professional medical suites, floor-to-ceiling window lines, an abundance of parking and excellent street visibility. The medical center sits along a major thoroughfare and is within 1.5 miles of Henry Mayo Memorial Hospital.    

According to the team, “In addition to the existing asset and location, the overall setup allowing for the conversion of suites into condominiums lends intrinsic value to the property. Medical building investors and users seek assets close to major hospitals, and this property is a prime example of that.”  

The property sold for $11.3 million, with Spectrum CRE representing both parties. 

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