345-395 Terracina Blvd
Redlands, CA 92373

Value-Add Medical Office Condo Re-Positioning Opportunity Across From Hospital Rare opportunity to acquire a 5-building medical office campus directly across the street from Redlands Community Hospital. The Property, consisting of 16,765 square feet, has 5 standalone medical offices ranging from 2,300 to 5,184 square feet. There is substantial value enhancement through placing a condo map on the property, and then selling the buildings individually to owner/users for a premium. At 56% leased to tenants on short-term leases, the offering provides an immediate income stream while new ownership undertakes cosmetic improvements and wait for condo map approval. The proximity to Redlands Community Hospital creates an element of desirability that would be difficult to replicate in the marketplace for users in this size range. This, combined with limited competitive offerings, creates tremendous upside and should generate immediate demand from smaller users in the marketplace. STRONG MARKET FUNDAMENTALS Redland’s medical office submarket is severely underserved, with a current vacancy of 4.1% and a total inventory of only 475,037 square feet. With no new development under construction or planned for the foreseeable future, vacancy should continue to compress. Inventory scarcity should drive rental rates higher. Strong demographics and medical demand in a tightening market will continue to support the value of this asset long term, as CBRE Econometric Advisors has forecasted medical office rents and pricing growth of 15.9% over the next five years. IDEAL MEDICAL OFFICE LOCATION WITH INCREDIBLE DEMOGRAPHICS AND AMENITIES The Property is located directly across the street from Redlands Community Hospital (RCH), a full-service, 229-bed community hospital with a team of over 300 physicians and 1,600 employees. The award-winning RHS is currently growing its campus footprint with the addition of an 8,700-square-foot surgery center, as well as the renovation of the Emergency Department that will double in size and add additional beds, critical-care rooms, evaluation/triage stations, and additional nursing stations and offices. In addition to its adjacency to RCH, the Property has close proximity to Loma Linda University Medical Center (3.2 miles) and VA Loma Linda Healthcare System (3.4 miles). Central location between two prominent universities: UNIVERSITY OF REDLANDS, a premier university ranked 12th among Western Regional Universities by U.S. New and World Report. The private university enrolls approximately 4,500 students in more than 70 undergraduate and graduate programs. LOMA LINDA UNIVERSITY, an esteemed health sciences university with close to 3,000 students in more than 100 degree and certificate programs. Its well-respected hospital system admits more than 30,000 patients per year.