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May 22, 2019
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Medical Office Building in San Diego’s North County Acquired by Harrison Street Real Estate Capital


Harrison Street Real Estate Capital LLC purchased Palomar Health Outpatient Center Phase I, a 75k sf, medical office building North County San Diego. The property is located at 2125 Citracado Pkwy in Escondido. The transaction price was not given out.

The property is a three-story, build-to-suit, Class A building that is 100% leased to Palomar Heath, which plans to offer high-acuity services such as radiation, oncology, express care/outpatient clinical services and a Palomar-Rady Children’s Hospital venture at the facility. Phase I was delivered in April 2018. The Palomar Health Outpatient Center Phase I is located on the 56-acre, award-winning Palomar Medical Center Escondido campus, a 288-bed hospital with the only Trauma Center within a 20-mile radius. Additionally, the building is positioned at the intersection of Interstate 15 and State Route 78, two major thoroughfares in San Diego County.

HFF’s Evan Kovac, Andrew Milne and Trent Jemmett represented the buyer and the seller, Encinitas-based real estate developer JRMC Real Estate Inc. HFF’s Tim Wright and Zack Holderman arranged the financing for the deal.

“This on-campus, outpatient medical office building complements our existing portfolio of Class A outpatient facilities associated with leading health systems across the country,” noted Mark Burkemper, Managing Director and Head of Healthcare Real Estate for Harrison Street. “The building is an asset to the community and its residents and will serve as an extension for clinical services at Palomar Medical Center Escondido, Palomar Heath’s brand-new state-of-the-art hospital and level II trauma center.”

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