Facility provides Northern California hospital systems with mission-critical services
Mohr Capital, a Dallas-based privately held real estate investment firm, has acquired a 102,466-square-foot industrial building located at 8190 Murray Avenue in Gilroy, California.
The property is fully leased to Crothall Healthcare, a subsidiary of the Compass Group, a $26 billion British-based multinational company with operations in 45 countries and more than 500,000 employees. Crothall Healthcare's mission-critical facility provides state-of-the-art laundry processing services to Northern California hospital systems, enabling them to continue providing medical care to patients.
"Mohr Capital focuses on acquiring best-in-class and mission-critical facilities with credit tenants nationwide," said Rodrigo Godoi, managing director of investments for Mohr Capital. "The pandemic has presented industrial CRE with its share of challenges and opportunities. When we came across this Compass Group mission-critical facility, which is helping hospitals remain operational at a very critical time, we knew this was a sound property investment opportunity."
This is Mohr Capital's second acquisition in the Bay Area following a successful investment in Pacific Corporate Center, a 207,806-square-foot, Class "A" R&D/Flex Park located in Livermore, California. Mohr Capital acquired the property below replacement cost in a desirable area near the Lawrence Livermore National Laboratory and the Sandia National Laboratory. The park is occupied by FormFactor, the world's leading semiconductor probe card manufacturer. The property is fully leased.
"Despite the pandemic's effect on California commercial real estate in 2020, we felt the time was right to add to our portfolio with our second acquisition in the state," said Bob Mohr, chairman of Mohr Capital. "We're pleased our investment will support the critical needs of hospital systems, hospitals, frontline health care workers, and patients across Northern California during the pandemic."
To date in 2020, Mohr Capital has completed ten transactions in Texas, Arizona, Indiana, California and Florida valued at $200 million with more acquisitions scheduled to close before the end of the year.