February 28, 2019
Palomar Health Outpatient Center Phase I, a roughly 75,000-square-foot medical office building in North County San Diego, has traded hands. The buyer was Harrison Street Real Estate Capital, LLC, while the seller was Encinitas-based real estate developer JRMC Real Estate Inc.
The three-story, build-to-suit, Class A building is 100% leased to Palomar Health, which plans to offer high-acuity services such as radiation, oncology, express care/outpatient clinical services and a Palomar-Rady Children’s Hospital venture at the facility. Phase I was delivered in April 2018, and is located on the 56-acre, Palomar Medical Center Escondido campus, a 288-bed hospital with the only Trauma Center within a 20-mile radius.
Harrison Street’s Mark Burkemper says, “This on-campus, outpatient medical office building complements our existing portfolio of Class A outpatient facilities associated with leading health systems across the country.”
HFF’s Evan Kovac, Andrew Milne and Trent Jemmett handled the sale, while HFF’s debt advisory team included Tim Wright and Zack Holderman.
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