Pasadena’s Huntington Orthopedics Surgical Medical Group has bought its second building in the past year near Huntington Hospital, according to Toronto, Canada-based commercial real estate brokerage Avison Young (Canada) Inc.
The group paid $9.25 million for the 22,000-square-foot medical building at 837 S. Fair Oaks Ave., a block from the hospital, said Michael Dettling with Avison Young, who brokered the deal on behalf of the medical group. The seller was Hollis Cotton.
The building was 100 percent occupied at the time of the sale, mostly by the hospital, and its lease will expire next year. The group will subsequently occupy much of the building, Avison said.
In April, the group bought 39 Congress St., a more than 17,600-square-foot medical building next to the hospital for $10.8 million and plans to occupy a part of the building after an expansion. Dettling brokered that deal also.
Both the April and recent sales were off-market deals.