When Mission Hospital — South Orange County’s only regional trauma center — faced rising demand, the need for additional medical office space in Mission Viejo became clear. Recognizing the opportunity, Economos DeWolf targeted traditional office buildings in the immediate area for potential conversion.
The owner of Los Altos Plaza, a 40,000-square-foot office building, expressed interest in selling. Economos DeWolf sourced a buyer in Universal Properties, a Michigan-based investor with a strong track record in medical real estate. The transaction closed at just over $11,000,000.
Following the acquisition, Economos DeWolf partnered with Universal Properties and local city officials to secure medical zoning and approval for a one-level parking deck expansion, increasing parking capacity to meet the needs of medical tenants. These strategic improvements enhanced the property’s value by approximately $4,000,000.
