Kaiser pays $67M for California medical office building

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. 

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