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6/22/17
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Torrey Hills Medical Plaza, a 44.1k sf, Class A medical office building in the Del Mar Heights/Carmel Valley submarket of San Diego, traded hands in a recent $28.5 mil ($646/sf) transaction. Completed in 2005, the two-story building is 92% leased and anchored by Fresenius Medical Care.
Torrey Hills Medical Plaza is located on a 2.59-acre site at 4765 Carmel Mountain Rd, within the Von’s-anchored Torrey Hills Center. The location is accessible to the 5 and 805 Freeways as well as US Route 56, providing connectivity to all areas of San Diego. Additionally, the property is within minutes of UCSD’s Thornton Hospital, Scripps Research Institute, Scripps Memorial Hospital, The Salk Institute San Diego and the VA Medical Center.
Evan Kovac, Nick Frasco, Andrew Milne and Trent Jemmett with HFF represented the buyer, Torrey Hills MOB LLC, and the seller, Torrey Pines Enterprises LLC, in the deal. JLL's Paul Braun and Chris Ross also repped the seller. In addition HFF’s Zack Holderman led the efforts in arranging the joint venture, as well as working with the current life company lender on the assumption and loan modification.
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