The Offering
Colliers International has been retained by the owner of Century City Medical Plaza (CCMP) on an exclusive basis to market the property for sale as a partial alternative use redevelopment opportunity. CCMP is a 1.85 acre parcel consisting of an approximately 170,000 square foot, 9-story hospital building and a 200,000 square foot, 18-story medical office building. The two separate building structures share a common plaza and are situated over an 800 space parking facility with 4.5 subterranean levels. The hospital facility, which closed for business in August 2008 could potentially be converted to an alternative use including office, medical office or residential. The medical office building remains fully operational and is currently 83% leased to a diverse group of physicians and medical groups. CCMP is located at the northeast corner of Olympic Boulevard and Century Park East in the Century City business district of Los Angeles directly adjacent to the city of Beverly Hills. The owner is seeking to sell the entire CCMP property.
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Summary
| Offering |
For Sale or Lease |
| Property Type |
Hospital |
Medical Office Building |
| Address |
2070 Century Park East |
2080 Century Park East |
| Year Built |
1971, Renovated in 2005 |
1969 |
| Project Size |
170,000 SF |
200,000 SF |
| Floors |
9 |
18 |
| Offering Price |
TBD |
| Total Property Area |
1.85 Acres |
| Number of Buildings |
2 |
| Parking |
4.5 sutbterranean parking levels – Approximately 800 spaces |
Opportunity Highlights
- Prospective buyers of CCMP are presented with a prime opportunity to redevelop the former hospital
facility under an alternative use such as office, medical office or residential.
- CCMP is situated in the Century City business district within walking distance of hotels, restaurants
and shopping. Located adjacent to Beverly Hills, CCMP is minutes from the 10 and 405 freeways.
- A conversion of the former hospital facility to office use would result in the availability of a significant
number of excess “trips” under the Century City North Specific Plan representing significant potential value
to a prospective buyer.
- The 18-story medical office building has historically maintained near full occupancy, and has recently
undergone common area and elevator upgrades.
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