Seller Rep Cushman & Wakefield Procures Multiple Offers in Sale
SAN DIEGO, CA, August 4, 2016 – Cushman & Wakefield, a global leader in commercial real estate services, announced today that Sharp Healthcare has acquired a 36,731 square foot medical office building in Miramar, CA, a neighborhood in northern San Diego, for $9.3 million. The single-tenant property was sold by a private ownership, which was represented in the transaction by Travis Ives, Lars Platt and Rooney Daschbach with Cushman & Wakefield’s offices in San Diego, Irvine and Long Beach.
The three-story building located at 8933 Activity Road has long served as the home to the Sharp Rees-Stealy Medical Group, which utilizes this facility to provide comprehensive medical services to those living and working in Mira Mesa and Miramar. In 2012, Cushman & Wakefield represented the seller in extending Sharp’s lease of the property through spring of 2022. Sharp has occupied the building since 1990, three years following the initial development of the property in 1987.
“Through a controlled and competitive process, we procured multiple offers from a variety of potential buyers who saw the value in acquiring a fully stabilized asset leased by a credit tenant like Sharp Healthcare,” said Mr. Ives, who leads Cushman & Wakefield’s national Healthcare Capital Markets Team. “The buyer pool for medical office buildings has expanded tremendously in the past several years leading to increased competition for assets like this, and Sharp Healthcare recognized the value of owning this highly strategic facility.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transforms the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter
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