Newport Beach based investor Archer Property Partners has quietly snapped up a trio of community medical office buildings across Orange County, taking over MemorialCare clinics in Rancho Santa Margarita, Mission Viejo, and Costa Mesa. The off-market portfolio traded for about $18 million and keeps MemorialCare in place as the anchor tenant at all three sites. Archer says it will roll out targeted upgrades while keeping the buildings focused on neighborhood primary care.
Deal details
In a March press release, Archer described the off-market transaction as a “relationship driven” deal and said the properties had been owned by a partnership that included MemorialCare, according to Archer Property Partners. The firm reported that Andy Knott and Austin Kanzler of CBRE represented the seller, while Archer went without its own broker on the acquisition.
Price and properties
The three-building portfolio sold for about $18 million, according to L.A. Business First. The deal covers MemorialCare clinics at 29472 Avenida de las Banderas in Rancho Santa Margarita, 23512 Madero Road in Mission Viejo, and 722 Baker Street in Costa Mesa, per MemorialCare.
Leasing and local impact
As part of the transaction, MemorialCare signed a new long-term lease at the Rancho Santa Margarita location, a right-sizing that will create roughly 5,000 square feet of newly available medical space, according to Archer Property Partners. Archer has engaged MedWest Realty to market the upcoming vacancy and says it is planning tenant-focused upgrades while keeping the clinics operating as neighborhood primary care hubs.
Why investors still want neighborhood MOBs
Single-story, community-embedded medical buildings remain scarce and appealing to investors because they are difficult to replicate and highly reusable for a range of clinical uses. Central Orange County’s medical office vacancy was running in the mid single digits as recently as late 2024, highlighting why clinics close to patients hold their value, according to the Orange County Business Journal.
MedWest, which lists the Archer announcement on its site, is handling leasing outreach for the newly available space. Providers eyeing expansion or relocation are being directed to contact the brokerage for details.
