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Northridge Medical Building Sells for Roughly $12 Million

A multi-tenant medical office building in Northridge has sold for an undisclosed price that — according to a source close to the deal —approaches $12 million.

Northridge Medical Center, located at 18433 Roscoe Blvd., is comprised of various professional medical tenants and sits across the street from Dignity Health’s Northridge Hospital Medical Center, a 409-bed facility.

Built in 1977, the 30,353-square-foot Northridge Medical Center counts among its 14 tenants HealthCare Partners of California, Valley Clinical Trials Inc., Oncology Institute of Hope and Innovation, Northridge Dentalworks and Active Life, according to CoStar date.

Yair Haimoff and Matt Sreden, commercial real estate brokers with Spectrum Commercial Real Estate, represented both the buyer and seller

“Once we put this great asset on the market, we generated a tremendous amount of activity,” Haimoff said in a statement. “We had multiple offers from private investors to regional and larger investment groups. The asset was ultimately sold to the highest bidder.”

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UCLA Health Expands at Encino Location

The Regents of University of California – Los Angeles have signed a lease to assume approximately 27,215 square feet of medical office space for UCLA Health, according to Yair Haimoff, founder of the recently formed brokerage Spectrum Commercial Real Estate Inc. in Santa Clarita.

Haimoff signed UCLA Health to a new decade-long commitment. Planning and construction of tenant improvements at the space are currently underway.

Centrally situated in Encino and also serving Tarzana and Sherman Oaks, UCLA Health’s Encino Arches will be comprised of primary and specialty medical offices.

In 2016, Haimoff assisted UCLA by securing approximately 17,000 square feet at Encino Arches at 15503 Ventura Blvd. When the need for an additional 20,000 to 30,000 square feet of medical space arose, Haimoff helped the health system secure more space at the same location.

Haimoff previously worked as a broker with NAI Capital and managed its Valencia office. He negotiated UCLA lease at the end of 2017 as he transitioned from NAI to starting his own firm.

“It was inked after I left NAI and was with Spectrum,” Haimoff told the Business Journal.

Based in Valencia, Haimoff’s Spectrum Commercial Real Estate is a full-service commercial real estate firm with additional offices in Encino and Century City. Haimoff started Spectrum in January.