Mohr Capital Acquires Crothall Healthcare Industrial Building
Mohr Capital has bought a 102,466-square-foot industrial building located in Gilroy, California, at 8190 Murray Avenue.
FREMONT, CA: Mohr Capital, a privately owned real estate investment company headquartered in Dallas, has bought a 102,466-square-foot industrial building located in Gilroy, California, at 8190 Murray Avenue.
The property is entirely leased to Crothall Healthcare, a Compass Group subsidiary, a $26 billion international corporation headquartered in Britain with operations in 45 countries and more than 500,000 employees. The mission-critical facility of Crothall Healthcare offers state-of-the-art laundry processing facilities to hospital systems in Northern California, allowing them to continue supplying patients with medical treatment.
"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."
Following a profitable investment in Pacific Corporate Center, a 207,806-square-foot, Class 'A' R&D/Flex Park located in Livermore, California, Mohr Capital's second acquisition is in the Bay Area. In a suitable location near the Lawrence Livermore National Laboratory and the Sandia National Laboratory, Mohr Capital acquired the property below the replacement price. The park is populated by the world's leading manufacturer of semiconductor probe cards, FormFactor (NASDAQ: FORM). The land is entirely rented.
"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."