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JLL closes $4.4 million acquisition of 2020 Cassia Road in Carlsbad, Calif.
CARLSBAD, Calif., Mar. 24, 2016 – JLL’s Healthcare Practice Group experts announce that high demand for healthcare real estate culminated in the acquisition of 2020 Cassia Road in Carlsbad, Calif. A San Diego-based private investor purchased the 6,350-square-foot medical office building for $4.4 millionJLL Healthcare Practice Group members Paul Braun and Chris Ross represented the buyer. The seller, Amherst Properties, Inc., was represented by Jon Walters of Colliers International.
“The steadily improving market conditions in the San Diego healthcare real estate market are resulting in strong occupancy rates and rent growth,” said Braun. “Investors of all types are attracted to the stability and growth that the healthcare space is experiencing."
Braun continued by saying, "$167 million in total medical office sale consideration was recorded San Diego County in 2015, up from $133 million in 2014 and on par with the record volumes posted in 2012 and 2013."
Developed in 2007, 2020 Cassia Road is located at the corner of El Camino Real, just minutes from Interstate 5 (I-5), providing convenient access to surrounding San Diego County communities. The building is fully leased to multiple medical and dental practices.
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About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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