Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 1990
Building Area
Land Area ()

Property Description

​​​​​​​JLL is pleased to present the opportunity to acquire Park Place Medical (the “Property” or “PPM”), a 99% occupied 57,000 SF outpatient medical office building in San Francisco’s North Bay at a reduced purchase price of $13,950,000. There is also an adjacent 4-acre development parcel that may be acquired in addition to the current offering.​ PPM is anchored by the largest not-for-profit health system in California, Kaiser Permanente (82% Net Rentable Area / Fitch: AA-), who has expanded their footprint within the Property seven times since its original construction in 1990, including a newly exercised lease extension. Park Place Medical is strategically located less than a quarter-mile from the 248-bed Kaiser Permanente Vallejo Medical Center and one mile from the 102-bed Sutter Solano Medical Center. PPM is a rare value-add opportunity with in-place rents currently 22% below-market coupled with stable and dependable cash flow, all the while significantly below replacement cost.

Investment Highlights

Infill Bay Area Development Site

Vallejo offers easy access to the Bay Area economic hubs of San Francisco and Oakland, and is also easy driving distance to booming Sacramento.

Medical Hub

Two adjacent Medical office buildings and 2 blocks from Kaiser Hospital.

Great Visibility

Prominent location on Broadway Street.

Suburban Location Benefiting from Work From Home Paradigm

The North Bay region is the only Bay Area region to show positive growth throughout 2020, thanks to a flight to the suburbs. The new ability to work from home makes Vallejo, thanks to its proximity to San Francisco but available land, poised for development.

Flexible Zoning

Proposed zoning for the Site (anticipated to be approved in May 2021) would allow office and residential development with an FAR of 2.0 and 16 - 50 dwelling units/ acre. 

Great Access to San Francisco

Highway 580 and the San Francisco Bay Ferry provide direct connections to the inner Bay Area and San Francisco.

Last Updated Date: 11 May 2021
Evan Kovac
Evan Kovac
Managing Director, Capital Markets
Broker Licenses
CA-01750736
Matt DiCesare
Matt DiCesare
Director, Medical Office Investment Advisory
Broker Licenses
CA-02103060

Please enter your corporate email account in the email field. We may not be able to reply to your personal email account or free email address such as Gmail or Yahoo Mail.

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 11 May 2021

Do you have any questions?  Visit our FAQ page

The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

Please go to the below link for our commitment to compliance (Japanese only).

https://www.joneslanglasalle.co.jp/ja/compliance-with-laws-and-regulations-and-its-representation

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.