Oakland, Calif.-based Kaiser Foundation Health Plan has purchased a medical office building in Santa Clarita, Calif., for $67 million, according to a Jan. 23 report from the Real Deal.
The 223,900-square-foot building sold for 30% less than what it sold for in 2014, according to the report.
The decline in purchase price reflects trends in the area, where 1 in 5 office buildings are sitting empty.
The building has been empty since lab testing services provider Quest Diagnostics did not extend its lease last year.