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The Wallace Medical Group

Gary A. Pepp, Senior Vice President, is pleased to announce as of September 1, 2020 the relocation and expansion of a well-known Beverly Hills dermatologist, Dr. Paul Wallace, MD. After 20 plus years in Beverly Hills, Dr. Wallace decided to relocate to Culver City, CA. In our market survey, we found space that was vacated unexpectedly by a national known medical group. In our negotiations for the approximately 6,000 sf space, we negotiated an eleven (11) year lease at market rate on a full service gross lease and months of free Rent/CAM charges. The premise was totally built out as medical space two years earlier by the previous tenant. The space was acceptable “As Is” with the Landlord being responsible only for the painting and flooring. Tenant will be responsible for any additional minor tenant improvements

The Wallace Medical Group practices medical and cosmetic dermatology with no involvement with plastic surgery. We wish Dr. Paul Wallace much success in his new location and thank you for your letter of recommendation.

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Dr. Patrick Moore

Gary A. Pepp, Senior Vice President, is pleased to announce as of May 1, 2020 the signed lease and the relocation of Dr. Patrick Moore MD medical offices. His offices are located at 25405 Hancock Ave. Suite 217 in Murrieta, CA.

Dr. Moore is a practicing General Surgeon in the Temecula to San Diego Area. During this Covad-19 time period, Dr. Moore decided to expand, so we negotiated an eight (8) year lease with free rent and “Turn Key” tenant improvements.

We wish Dr. Moore much success in his new location and to thank him for his letter of recommendation.

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Purchase of new medical condominium

Gary Pepp, Senior Vice President, of Bailes & Associates, Inc. represented Dr. Keith Tokuhara, MD of Desert Vision Center in the purchase of a 3,077/sf medical condominium located at 35-900 Bob Hope Drive, Suite 155, Rancho Mirage, CA. Gary Pepp had represented Dr. Tokuhara in the purchase of the medical unit 175, He had decided to purchase the adjoining unit 155 for his surgical center.

Escrow has been opened and is schedule to fund and close on January 4, 2019. The purchase price was $650,000.00  ($211.24/SF.) Financing was provided by West Valley National Bank in Phoenix AZ.

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New medical deal in Laguna Hills

Gary Pepp, Senior Vice President, of Bailes & Associates, Inc. represented Dr. Ming Robinson in relocating her medical office to 24953 Paseo de Valencia, Suite 6A, Laguna Hills, CA. Dr. Robinson signed a two-year lease with option to extend that becomes effective on December 1, 2018.

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Successful negotiation of Veterinary Clinic

Gary Pepp, Senior Vice President, of Bailes & Associates, Inc. represented Dr. Daniel Oh DVM in locating and negotiating his newly established Veterinary Clinic. The Clinic will be located at 7215 N. Van Nuys Blvd. Van Nuys which is within the Sherman Square Shopping Center. A 2,150 sf lease with a ten year term was negotiated. The Lease has a below-market starting rent. The base rent along with the proposed CAM charges are fixed for three years. The lease also includes building signage and an early lease termination due to death or permanent disability. The Lease was signed on October 22, 2018 with a Commencement Date of February 1, 2019.

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Newport Children’s Medical Group at Mission, Inc. Lease Renewal

Gary Pepp, Senior Vice President, of Bailes & Associates, Inc. represented Newport Children’s Medical Group at Mission, Inc. in negotiating the termination of an existing lease while negotiating their relocation. The medical group will be located at 26800 Crown Valley Ply., Suite 510, Mission Viejo, CA 92691. The lease was signed March 1, 2018 and the scheduled commencement date is October 1, 2018.

Newport Children’s Medical Group has three other medical clinic locations, Huntington Beach, Laguna Beach and a Costa Mesa. Gary Pepp recently negotiated a five-year lease renewal on their office at 1640 Newport Blvd., Suite 210, Costa Mesa, CA.

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Purchase of Medical Facility

Gary Pepp, Senior Vice President, of Bailes & Associates, Inc. represented Dr. Keith Tokuhara, MD of Desert Vision Center in the purchase of a 4,662/sf medical condominium located at 35-900 Bob Hope Drive, Suite 175, Rancho Mirage, CA

The sale closed August 8, 2018. The purchase price was $1,275,000 ($273.49/SF. Financing was provided by West Valley National Bank in Phoenix AZ. The space will be used by the buyer as his medical facility that will include his surgical center.

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Office building purchased in Irvine, CA

Mark Coffey & Rob Rowan of Bailes & Associates, Inc. represented Goddard Holdings, LLC in the purchase of a 12,088 SF office building located at 300 Goddard Way, Irvine, CA.

The sale close April 13, 2018 with purchase price of $3,989,000 ($330/SF). SBA financing provided through Chase Bank. The property is located in the Spectrum area of Irvine and will be used by the buyer for its corporate headquarters.

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Corbin Reeves Construction purchases $1.5M 7,700 SF office property in Costa Mesa

Mark Coffey and Rob Rowan of Bailes & Associates, Inc. represented Michael Reeves, CEO of Corbin Reeves Construction in the purchase of a 7,700 SF office property located at 245 Fischer Avenue, Costa Mesa, CA.  The sale closed in December. Corbin Reeves Construction (www.corbinreevesconstruction.com) is a leading luxury home builder in Southern California that was established in 2012. The property was purchased at substantially under market value though creative negotiating techniques. SBA financing was provided through Union Bank.

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Acquisition of 930 Pine Avenue, Long Beach, CA

Bailes & Associates proudly announces that Gary Pepp, Sr. Vice President has brokered the purchase of the office building at 930 Pine Avenue, Long Beach, CA. The office building will become the new medical offices of Karing Pediatrics Medical Group, Inc. Karing Pediatrics is a well- known and well established medical member of the Long Beach community with over 20 years of service to the area residents.
The doctors of Karing Pediatrics Medical Group, Inc are executive directors of CHPAA. Cambodian Health Professionals Association of America (CHPAA) is a non-profit organization that provides free medical, dental, and surgical services to underserved people of Cambodia, and gives them much needed health education. Here in the United States, CHPAA participates in local health events, and awards generous scholarships to students who aspire to pursue a career in health field.

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