Cardinal Sherwood LLC, a property investor based in southern California, has acquired the 70,000 square foot Cardinal Health customer service center at 5430 Landers Road in Sherwood, paying $7.0 million in the investment transaction that closed earlier this month. Cardinal Health, which ranks among the top 25 on the Fortune 500 list and leases the Sherwood facility, will continue its operations at the location with no change.
The seller, Schonfeld Properties Arkansas LLC, was represented by Jeff Hathaway and Reed Billings of Hathaway Group in Little Rock. The buyer was represented by KW Commercial Calabasas of California.
“I believe all parties were very happy with this result,” Hathaway said. “The property’s tenant is about as financially strong as they get, and they’ve been operating a high-quality customer care center there for over thirteen years. We were in the early stages of marketing the asset, and the buyer recognized the opportunity and acted on it before others could.”
“Knowing the building was originally a retail grocery store, when you walk in and see the comfortable work atmosphere and the bustling office activity, you’re just amazed at how the building’s been transformed,” Billings added.
According to its website, Cardinal Health is headquartered in Dublin, Ohio and is a global healthcare services and products company, serving hospitals, pharmacies, surgery centers, labs and physician offices worldwide, with over 50,000 employees.