LOS ANGELES, CA--(Marketwired - March 03, 2017) - Doheny Eye Institute, one of the world's leading, nonprofit vision research organizations, announces the sale of its medical office building at 1450 San Pablo Street in Los Angeles to the University of Southern California. The property is encircled by USC's health sciences campus.
The building was marketed by Charles Dunn and Kennedy Wilson. Bidder interest in the property was strong.
In 2012, the 40-year affiliation between Doheny and USC ended. The following year, Doheny signed a historic 99-year affiliation agreement with UCLA Stein Eye Institute.
Executive Director, Marissa Goldberg, said that the new affiliation was part of the institute's motivation to sell. "Since our academic affiliation now is with UCLA Stein Eye Institute, it makes sense to divest ourselves of this property as part of our larger strategic realignment with our affiliation partner, which will likely involve new Doheny headquarters," she added.
Christopher Clinton Conway, Chief of Development and Public Affairs, noted that Doheny was very pleased with the terms of the sale.
The institute has consolidated its administrative and research operations to its headquarters at 1355 San Pablo Street in Los Angeles. Doheny Eye Center UCLA clinics serve patients throughout Southern California, in Pasadena, Arcadia and Orange County.
About Doheny Eye Institute
The Doheny Eye Institute, established in 1947 by visionary philanthropist, Mrs. Carrie Estelle Doheny, is dedicated to the conservation, improvement and restoration of human eyesight. Doheny Eye Institute is proudly affiliated with UCLA Stein Eye Institute -- together they are ranked Best in the West, and Number 5 in the Nation by US News & World Report 2017.