March 7, 2018 Comments (0) Views: 551 California News, San Diego

Chicago’s MBRE Healthcare Buys Rancho Bernardo MOB

Chicago-based MBRE Healthcare acquired Excel Centre, an 83,213-square-foot medical office building in San Diego’s Rancho Bernardo community for $37.1 million. The Kaiser Permanente-anchored facility, located at 17140 Bernardo Center Dr., was sold by an unnamed institutional investor.

Excel Centre is part of the larger Park Terrace, a walkable mixed-use development featuring offices, hotels, restaurants and fitness, in addition to immediate accessibility and visibility from Interstate 15.

Cushman & Wakefield’s Rick Reeder, Brad Tecca and Travis Ives represented the seller.

Reeder says, “The Class A asset comprises a highly desirable and rare investment profile that includes stable cash flow backed by financial strength. As the project’s sole and majority tenant occupying the first two floors, Kaiser’s recent expansion and lease extension within the building signals their long-term commitment to the project and their patients in Rancho Bernardo.”

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