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8/31/22
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Sharp Healthcare, Inc paid $27.5 mil for a 95k sf ($289/sf), two-building corporate office project in San Diego’s Kearny Mesa area. Sharp Healthcare is one of San Diego’s largest health care providers.
The property, located at 8975 – 8985 Balboa Ave, offers easy access from the I-15 and 163 freeways. It offers an above standard parking ratio of 4.5 spaces /1k sf of building space. Ample parking is a critical requirement for medical service providers, and often hard to find.
Brandon Keith and Randy LaChance with Voit Real Estate Services represented the seller, Jack Henry & Associates Inc, based out of Monett, MO. Sharp Healthcare was repped by Michael LaBelle of Savills USA.
Sharp intends to convert most of the property to medical space, according to LaChance. The buildings offered additional features conducive to medical space conversion, including high ceiling heights, heavy power, and a large back-up power generator.
“Sharp Healthcare already has a significant presence in the Kearny Mesa market. Due to the recently updated Kearny Mesa Community Plan, the surrounding area is poised to see significant residential growth over the next 10+ years, and this central location will allow Sharp to service that growing Kearny Mesa population”, according to Keith.
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