NEWPORT BEACH, Calif., Feb. 6, 2013 (GLOBE NEWSWIRE) -- American Healthcare Investors, a commercial real estate investment firm that specializes in the acquisition and management of healthcare-related properties, announced today that it has negotiated a 9-year replacement lease with Profil Institute for 26,000 square feet of space at Centre Medical Plaza in the San Diego suburb of Chula Vista, Calif.
"Profil Institute has occupied space in Centre Medical Plaza since 2003," said Chris Rooney, senior vice president, asset management. "Securing a long-term lease extension with Profil provides added stability to the building's leased rate, currently 100 percent, which significantly outpaces the local submarket."
Centre Medical Plaza is a two-building, multi-tenant medical office portfolio consisting of nearly 75,000 square feet and located approximately one mile south of the 183-bed Scripps Mercy Hospital-Chula Vista. The property is fully leased to 24 tenants, including Profil Institute, Children's Primary Care, and San Ysidro Health Center.
Profil Institute performs early phase clinical research of drugs and devices for diabetes, obesity, and cardiometabolic diseases in cooperation with the pharmaceutical industry. The company has been involved with more than 175 clinical studies since its inception in 2004.
American Healthcare Investors manages Centre Medical Plaza, located at 855 and 865 3rd Avenue, on behalf of the stockholders of Griffin-American Healthcare REIT II, Inc. Ron Magnaghi of The Irving Group represented Profil Institute in the negotiation.
Since January 2012, American Healthcare Investors have successfully executed lease transactions nationwide totaling more than 287,000 square feet, valued in excess of $48 million, on behalf of Griffin-American Healthcare REIT II.
About American Healthcare Investors LLC
American Healthcare Investors is an investment management firm that specializes in the acquisition and management of healthcare-related real estate, including medical office buildings, skilled nursing facilities, assisted living facilities and hospitals. The company was founded by nationally recognized real estate investment executives Jeff Hanson, Danny Prosky and Mathieu Streiff, who have completed in excess of $15 billion in aggregate acquisition and disposition transactions during their careers, approximately $5.5 billion of which has been healthcare-related real estate transactions. American Healthcare Investors is committed to providing investors with access to the potential benefits that healthcare-related real estate ownership can provide. For more information regarding American Healthcare Investors, please visit www.AmericanHealthcareInvestors.com.
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Source:American Healthcare Investors