Healthcare group acquires office building in San Diego, California
JLL represented owner/user/investor in acquisition
SAN DIEGO, CALIF., April 29, 2021 – JLL announced today that NextMed - San Diego Owner, LLC has paid $8.95 million for the Class A, three-story 36,073-square-foot building located at 5643 Copley Drive in San Diego, California. NextMed San Diego Owner, LLC, anchored by a surgery center developer and a group of doctors, will convert the building to a surgery center and medical offices.
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 represented 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 Chris Ross, Executive Vice President, JLL Healthcare Practice Group. "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.”
5643 Copley Drive 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 Boulevard and Convoy Street, providing convenient access to healthcare services for the surrounding communities.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.