{"id":42323,"date":"2025-04-25T07:27:24","date_gmt":"2025-04-25T04:27:24","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=42323"},"modified":"2025-04-16T10:39:34","modified_gmt":"2025-04-16T07:39:34","slug":"ucla-health-maintains-santa-monica-presence-with-lease-renewal","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/ucla-health-maintains-santa-monica-presence-with-lease-renewal\/","title":{"rendered":"UCLA Health Maintains Santa Monica Presence With Lease Renewal"},"content":{"rendered":"

Despite its significant, $90 million redevelopment project for the Sports Medicine Institute, UCLA Health is maintaining its presence in other parts of Los Angeles County after recently renewing its lease for 22,224 square feet at the three-story medical office building located at 2825 Santa Monica Blvd. in Santa Monica, Calif. \u00a0<\/sup><\/p>\n

The property \u2014 owned by Chicago-based Harrison Street \u2014 serves as lab and office space for UCLA\u2019s Jonsson Comprehensive Cancer Center. The company acquired the Santa Monica property in 2022 for approximately $58.6 million as part of a larger portfolio transaction that also encompassed the 51,570-square-foot medical office building located at 9090 Wilshire Blvd. in Beverly Hills, Calif.<\/p>\n

The lease transaction for 2825 Santa Monica Blvd. was brokered by JLL\u2019s Bryan Lewitt, Chris Isola and Monica Enes representing the landlord (Harrison Street Real Estate) with Anchor Health Properties acting as the third-party asset manager. UCLA Health was represented internally by Matt Ceragioli and Greg Park.<\/p>\n

JLL Executive Vice President, Chris Isola, stated, \u201cThis lease highlights the demand for well-located medical office properties in southern California.\u201d<\/p>\n

Echoing this sentiment, JLL Managing Director, Bryan Lewitt, noted that \u201ccompelling relocation options for tenants of this stature are limited in the Westside market, leading toward a higher likelihood of renewal and the ability for ownership to secure a competitive rental rate and favorable lease terms.\u201d<\/p>\n

UCLA has been strategically expanding its footprint across the LA Basin for years \u2014 a move highlighted by a significant, $700 million acquisition early last year to transform the Westside Pavilion mall into a substantial research park. Further demonstrating this growth, the university\u2019s health system also invested $55 million last fall to acquire a 170,000-square-foot facility near Los Angeles International Airport that\u2019s earmarked for the UCLA Sports Medicine Institute. It also has plans for a $90 million redevelopment<\/a> to include an ambulatory surgery center, medical clinic and specialty pharmacy, among other enhancements.<\/p>\n

Make sure to check out our local listings of\u00a0<\/em>commercial real estate in Los Angeles<\/em><\/a>\u00a0or visit the\u00a0<\/em>CommercialCafe.com<\/em><\/a>\u00a0homepage to start your search.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

UCLA Health is maintaining its presence in Los Angeles County after recently renewing its lease for 22,224 square feet at the three-story medical office building located at 2825 Santa Monica Blvd. in Santa Monica, Calif. \u00a0<\/p>\n","protected":false},"author":56,"featured_media":42324,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37,38,4014,39],"tags":[],"class_list":["post-42323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nUCLA Health Renews LA County Office Lease | CommercialCafe<\/title>\n<meta name=\"description\" content=\"UCLA Health is maintaining its presence in Los Angeles County after renewing its lease for 22,224 square feet at 2825 Santa Monica 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