Harrison Street Real Estate Capital, LLC bought a medical office on the campus of the Palomar Medical Center for an undisclosed price.
The three-story Palomar Health Outpatient Center Phase I, 2125 Citracado Parkway, was sold by JMRC Real Estate Inc.
The 75,000 square foot building is fully leased to Palomar Health, which plans to offer a variety of medical services such as cancer treatment, express care, outpatient clinical services.
“We are excited to be a real estate partner for Palomar Health, northern San Diego County’s health care district,” said Mark Burkemper, managing director and head of Healthcare Real Estate for Harrison Street.
“This on-campus, outpatient medical office building complements our existing portfolio of Class A outpatient facilities associated with leading health systems across the country,” Burkemper said. “The building is an asset to the community and its residents and will serve as an extension for clinical services at Palomar Medical Center Escondido, Palomar Health’s brand new state-of-the-art hospital and level II trauma center.”
The transaction was brokered by an HFF investment advisory team that included Managing Director Evan Kovac, Director Andrew Mine, and Senior Associate Trent Jemmett.
Real estate reporter Ray Huard may be reached at firstname.lastname@example.org or 858-277-8904.