Eden Fertility Management LLC has signed an 11-year, 19,000-square-foot medical-office lease at Newport Heights Medical Campus in Newport Beach, California, with landlord Newport Heights Ventures LLC, according to a release from a representative of Avison Young. The property, on which SoCal Real Estate reported in April, was recently developed by Real Estate Development Associates LLC and is a 60,000-square-foot, class-A medical campus located at 20350 to 20360 Birch Street.
Avison Young principal Michael Dettling, who is based in the company’s Los Angeles North office, represented the tenant, a provider of clinical, administrative, and business development services to in vitro fertilization practices, while the landlord was represented by Bryan McKenney of Cypress West Partners, the release says. With this transaction, the Newport Heights campus is now fully leased.
According to the statement, Dettling also recently represented Starpoint Health in leasing 9,000 square feet and California Foot and Ankle in leasing 4,000 square feet within the property.
In the statement, Dettling is quoted as saying, “With only about 7 percent vacancy in the Newport Beach medical-office market, finding large, contiguous class-A medical space in upscale neighborhoods is difficult.” He adds that the campus is “a great match” for medical/surgical clients who want to practice in the area.
Dettling also is quoted as saying, “While this is the first office site for Eden Fertility, we are working with the tenant to identify and negotiate several additional locations in various regions throughout Southern California. Each regional site will include clinic space for physician offices, patient-examination rooms, a surgery center and an IVF lab.”
The release says that Newport Heights Medical Campus is located a short drive from major medical centers including Hoag Hospital-Newport Beach, Fountain Valley Medical Center, Orange Coast Memorial, Kaiser Irvine, and Hoag Hospital-Irvine.