Sale of Westside Professional Center ll Establishes Wiseman Commercial as Anchor Health Properties’ Preferred Commercial Real Estate Developer in the North Bay Region
FAIRFIELD, CA. On July 14th, 2021, Wiseman Commercial closed on the sale of Westside Professional Center, located at 2470 Hilborn Road, Fairfield, CA 94534, to leading healthcare real estate company, Anchor Health Properties (Anchor). The purchase was facilitated through a joint venture between Anchor’s co-managed equity fund, Chestnut Healthcare Fund II, and an existing institutional equity partner.
The sale of this 30,000 square foot, two-story, Class A medical office building marks another economic development-centered move by Wiseman Commercial, as Anchor’s purchase supports Solano County’s status as an increasingly recognized market in healthcare and medical services. As a national full-service healthcare real estate development, management, and investment company, Anchor focuses exclusively on advancing healthcare facilities and communities within their inhabited regions. These initiatives were ultimately found to be the deciding factor in Wiseman Commercial’s decision to both sell its Class A building and develop a relationship with Anchor.
“Wiseman Commercial is pleased to develop a relationship with Anchor Health Properties through the sale of Westside Professional Center II in Fairfield, California. Anchor is a company with Class A values and operational know-how in multiple medical office building markets nationally, and it was my pleasure to work closely and directly with their acquisition team throughout the acquisition-sale process, and to be part of their Bay Area expansion program.
We had several well-qualified and serious options to consider when deciding to sell the property to Anchor, and I am confident that the entire North Bay Area is fortunate to have such a highly reputable institution choosing to make their Class A move to the region. I look forward to the prospect of working with Anchor in the future.”
—Zen Hunter-Ishikawa, Chief Business Development Officer, Wiseman Commercial
Anchor is pleased with the acquisition and newly birthed relationship, as noted by James Schmid, Chief Investment Officer and Managing Partner with Anchor.
“With our second successfully closed transaction in the San Francisco MSA, we are excited to continue our support of the area’s status as a core clinical medical market while growing our owned and managed portfolio in Northern California.”
— James Schmid, Chief Investment Officer & Managing Partner, Anchor
Currently, Westside Professional Center ll houses NorthBay Healthcare (Moody’s Aa2), a non-profit healthcare organization that operates the space for clinical services, including occupational medicine, specialized behavioral health services, and medical administration offices. Additionally, NorthBay Healthcare works together with Retinal Consultants Medical Group, a premier retinal subspecialty group in Northern California that provides complementary services, such as retina surgery services.
“NorthBay MOB’s qualities align with our strategic investment thesis – core and core-plus assets featuring a strong, clinical medical tenancy with a high-visibility location. The facility offers a synergistic group of health system and regional practices advantageously positioned within close proximity to the county’s largest and most comprehensive hospital campus. Our expertise in acquiring, managing, and leasing healthcare real estate adds exponential value that will contribute to the asset’s continued success.”
— James Schmid, Chief Investment Officer & Managing Partner, Anchor
Procuring broker for the sale, Maarten Deschaums, congratulated the parties to the transaction, and the local Fairfield and Solano County community.
“I congratulate Anchor Health Properties on the addition of another California asset to their portfolio. Their investment in the Westside Professional Center II stands as a testament not only to Solano County but also to the development capabilities of Wiseman Commercial. As a vertically integrated real estate firm, Wiseman Commercial has truly created a Class A property for NorthBay Healthcare and Retinal Consultants, which will support the growing medical needs of the local community.”
—Maarten Deschaums, Lands End Capital Advisors
Wiseman Commercial looks forward to working long-term with Anchor to continue benefiting the Northern California Region.
Wiseman Commercial
Wiseman Commercial’s mission is to improve the commercial real estate experience for its tenants, investors, and community by providing innovative, full-service Development, Investment, Management, and Brokerage services, while embracing its Core Values. Founded in 1979, Wiseman Commercial develops, leases, and manages 12 of its own Class A office buildings in Napa and Solano Counties for professional tenants and investors.
Contact Us
Zen Hunter-Ishikawa
Chief Business Development Officer
[email protected]
(o) 707.427.1212 ext. 014
(c) 202.528.3211
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