Transwestern Boosts Medical Game
We hope Transwestern didn't make a New Year's resolution to eat an apple a day. It surely doesn't want to keep doctors away, given it's just beefed up its healthcare practice by adding a new broker and selling a medical office building. A big welcome to Anna Mcquillan Rose, who just joined the firm's Walnut Creek office as VP of healthcare advisory services. Anna, previously with Borelli Investment Co, will rep owners, hospitals, and healthcare tenants in the leasing and sale of medical properties in the greater Silicon Valley and East Bay areas.
It's certainly a good time to be in the sector: Transwestern has picked the Bay Area's healthcare real estate sector among those poised for significant growth. (By year's end, investment volume in the East Bay reached $27M.) And vacancy in MOBs decreased to 6.1% in Q4 from 6.4% in Q3. On the acquisitions side, Transwestern managing director Ed Del Beccaro just repped Promfret Estates in its purchase of a two-story medical services building at 5000 Pleasanton in Pleasanton from Bernal for nearly $6.6M. The firm was also tapped to lease the 23k SF site, which has been permitted for medical use. Potential tenants include major hospital groups and providers such as opticians, dermatologists, and neurologists.