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June 25, 2024
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Vista Medical Office Building Trades for Over $550/sf


IRA Capital purchased a 20.3k sf, single-tenant, NNN-leased medical office building in Vista for $11.25 mil, or $554/sf. The two-story building, located at 910 Sycamore Ave, is fully leased to UCSD Health.

Built in 1990, the building is situated within a four-building medical campus and features ample parking. The property provides easy access to State Route 78, between the I-5 and I-15 Corridors and is also proximate to several major hospital campuses.

Peter Curry, Mark Avilla and Bob Cowan with Cushman & Wakefield represented the seller, MGNC Properties, a local private ownership, in the transaction. Prior to sale, the firm had also recently helped to negotiate a long-term lease renewal to UCSD Health in the building.

“This was a highly attractive medical investment opportunity with a strong, long-term local tenant offering a central North County location situated next to several residential communities in need of medical services,” said Avilla. “Healthcare real estate in San Diego remains a highly sought-after asset class.”

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