Bon Air Medical Center, an office complex at 18 Bon Air Road, has been sold for $24 million.
The two buildings on the property contain about 27,000 square feet of office space. MarinHealth rents the buildings for outpatient services, and the property is down the street from MarinHealth Medical Center.
The deal was announced Wednesday. The seller was Wareham Development Corp. of San Rafael, which owns several office complexes around the Bay Area.
“This was an asset that we had owned for many decades,” said James Goddard, a Wareham Development partner. “As our portfolio has grown and expanded it became a geographically isolated project. Now was an opportune time to sell and reinvest the funds into our large format campus locations in the East Bay and in the Stanford Research Park in Palo Alto.”
The buyer is Anchor Health Properties of Virginia, which has properties in 17 states. Its holdings include sites in Burlingame, Menlo Park and Los Gatos.
Anchor Health Properties plans no changes in the use of the property, said Andrew Antognoli, a company investment manager based in Huntington Beach.
“MarinHealth recently took over all of the space in both buildings and is expanding their existing service lines,” Antognoli said. “Anchor plans to maintain the properties to an institutional standard by investing substantial dollars throughout our ownership and further support MarinHealth’s long-term commitment of providing best-in-class care to the surrounding patient population at this location.”
