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Biomedical Lab Sells for $96M

A 226k SF building in Santa Clarita occupied by biomedical giant Quest Diagnostics has been purchased for $96M by American Realty Capital Global Trust. The 114-acre property was sold by Clarion Partners, which we told you last month has big plans for a much sexier market. HFF MD Mike McCann tells Bisnow with the overall investment environment offering low yields, a quality property with a strong-credit tenant is always going to get a lot of interest, as this property did. Quest has 10 years remaining on its lease. Mike, along with HFF MD Ryan Gallagher, director Andrew Harper and associate director Nick Foster repped Clarion.

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