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11/15/22
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Construction is nearing completion on a brand new, Class A multi-tenant medical office building in Encinitas. Located at 777 N El Camino Real, the 12.2k sf facility represents the first speculatively built medical office building (non-owner/user) in 15 years in Encinitas.
The new modern coastal building can accommodate multiple suites on two floors and is being developed by Manna Development Group. The building is expected to be delivered in mid-November.
Cushman & Wakefield’s Peter Curry, Brooks Campbell and Owen Curry are leading project Leasing efforts for the property.
Curry added, “San Diego remains a sought-after market for medical services, with patient volumes continuing to grow in many key services including Urology, Podiatry, Orthopedics, Neurology, Pain Management, Vascular, Gastroenterology, ENT, Ophthalmology, Pulmonology, and more according to Advisory Board,” noted Peter Curry. “And growth is expected to continue in demand for many years to come.”
777 N El Camino Real features a ground floor of 5.7k sf and a second floor with 6.5k sf, both in shell condition and that can be demised into multiple suites. There is also reserved and on-site parking, both in front of the building and in a parking garage. The building is highly visible from the heavily trafficked El Camino Real and positioned close to Leucadia Blvd, Encinitas Blvd., and Interstate 5.
The property is also close to Scripps Memorial Hospital – Encinitas and UC San Diego Health Garden View Rd – Encinitas. There are also several amenities including shopping centers and retail services and sizable residential communities located nearby.
According to Cushman & Wakefield’s mid-year 2022 market report, San Diego’s overall medical office vacancy stood at 6.0% countywide, with all submarkets maintaining single-digit vacancy for the past 15 quarters in a row. North County’s submarket vacancy, which includes Encinitas, was 6.9%. San Diego County also saw 262k sf of occupancy growth in the first half of 2022, with North County totaling over 65k sf of growth.
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