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5/04/21
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A 36k sf Class A office building in San Diego’s Kearny Mesa area traded for $8.95 mil ($249/sf). The three-story building is located at 5643 Copley Dr, south of the 52 Fwy and east of I-805.
The property was purchased by NextMed - San Diego Owner LLC. The buying entity, led by a surgery center developer and a group of doctors, will convert the building.
5643 Copley Dr is ideally located immediately off of SR-52 at the “center of gravity” of San Diego’s largest hospital campuses. It is easily accessible to most of San Diego’s major freeways, Clairemont Mesa Blvd and Convoy St, providing convenient access to healthcare services for the surrounding communities.
Chris Ross, Paul Braun and Kelly Moriarty of JLL’s Healthcare Practice Group in San Diego represented NextMed San Diego Owner, LLC. The seller, Manchester Financial, was repped by Derek Hulse, Morgan Reno and Duncan Dodd of Cushman Wakefield.
"Growth in the San Diego healthcare real estate market has been strong for several years, which has remained the case even through the challenges of the COVID pandemic," said Ross. "Vacancy rates continue to drop and rents continue to inch up, with very few properties available for purchase. We expect this trend to remain for the foreseeable future, which is making conversion opportunities like this extremely attractive to users and investors alike.”
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