Healthcare: Tarzana Medical Building Trades in $14 Mil Transaction

Wilbur Medical Plaza, a 53.1k sf multi-tenant specialty medical building in Tarzana traded hands at a price of $14.13 mil, or $266/sf. The property was purchased by Encino-based Ethan Christopher LLC in a joint venture with a well- known institutional medical office building investor.

Wilbur Medical Plaza is located on a 30.2k sf corner parcel at 5620 Wilbur Ave in Tarzana, less than one mile from the Providence Tarzana Medical Center, a 245-bed acute-care facility. The property is easily accessible from Hwy 101 and Ventura Blvd.

Built in 1986, the three-story Wilbur Medical Plaza features four levels of subterranean parking, prominent signage and a sleek exterior surrounded by lush landscaping. The building’s tenants are physicians, an on-site surgery center, an imaging center, a pharmacy and other medical related businesses.

Evan Kovac and Nic Lyon of Marcus & Millichap represented the seller, Atlantic Pearl Investments Inc, based in West Hollywood.

“Wilbur Medical Plaza was privately marketed to a select group of medical office REITs, pension funds, private equity and institutional medical office investors, both locally and nationally,” says Kovac. “Ethan Christopher LLC was selected from among several offers from highly qualified bidders.”


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