UC Los Angeles has paid $55 million for a 170,000-square-foot office facility that it plans to redevelop into the UCLA Health Sports Medicine Institute, according to a Nov. 1 report from the Commercial Observer.
The two-story facility is expected to cost roughly $90 million. It was sold to the health system by Karney Properties, which acquired the space for $53 million in 2017.
UCLA plans to redevelop the property for its sports medicine program, adding an ASC, a medical clinic, advanced imaging, a microbiology/serology clinical lab and a specialty pharmacy.