Santa Monica Physicians Center is a four-story, Class “A” medical office building containing 36,765 sf located in Santa Monica, California. It was originally developed in 1972 and completely renovated in 1993. The property is located within walking distance of two major hospitals, Saint John’s Hospital and Medical Center and UCLA Medical Center.

Acquired in December, 2002 the property was delivering a Net Operating Income of $816,869 as of December, 2004 and based on then cap rates of 7% a value of $11,669,557. Average rents at the time were at $2.65 psf for new five- to seven-year leases.

Net Operating Income as of 12/08 was $1,234,177 and the current estimated value is $19,746,837 based on current cap rates at 6.25% for medical office buildings located in the Westside of Los Angeles. Average rents as of 12/08 are at $4.25 psf for new ten-year leases, with annual increases of 3% per year.

This is an incredible increase in value of 93.6% in 6 years through prudent and strategic driving of rents at the property through implementation of a solid asset management plan, which included a remodeling of the lobbies and all common areas in 2007.

Under Karen Kennedy’s leadership, Santa Monica Physicians Center and my own investment experienced a dramatic increase in value. I wouldn’t make a move without consulting Karen and her team at NAS.

Dr. Irvin Q Sobel, Investor

  • National Assets Services Success Stories

    National Asset Services is a nationally respected, owner-entrusted commercial real estate management company that has delivered positive results for over 2500 investors nationwide. With experience in managing properties, located in diverse markets across the country, the NAS team knows that all owners have one goal in common:

    Increase Property Value. Optimize Property Performance.

    If you’re looking for a better commercial real estate management company, put the NAS team to work for your asset today. You will quickly see how an experienced commercial property management company will be a real difference in the making of your property’s success story.

  • Casa Bandera Apartments, Las Cruces, NM
    Las Cruces, NM

    Casa Bandera Apartments

    NAS Delivers a 121% Cumulative Return for Investors in Casa Bandera Apartments

    Read More
  • Kings Cove Luxury Apartments
    Kingwood, TX

    Kings Cove Luxury Apartments

    NAS Maximized Disposition Opportunity by Delivering Multiple Buyer Options for Property Ownership.

    Read More
  • ITC South Shopping Center
    Flanders, NJ

    ITC South Shopping Center

    NAS Delivers Buyer for New Jersey Shopping Center to One of the Country’s Largest Tenants-in-Common (TIC) Ownership Group.

    Read More
  • bellagio-at-bent-tree
    North Dallas, TX

    Bellagio at Bent Tree

    NAS increased profitability with stabilized occupancy over 90 percent range.

    Read More
  • Town East - Mesquite Texas
    Mesquite, TX

    Town East

    The sale of the property resulted in a cumulative return of 270% for investors who originally purchased the property as a group of tenants-in-common (TIC) owners in January 2006.

    Read More
  • Verdae Village Food Lion in Greenville, SC
    Greenville, SC

    Verdae Village Shopping Center

    Buyer Delivered for Large Tenants-in-Common Co-Owner Group at Greenville Shopping Center

    Read More