June 23, 2017
Torrey Hills Medical Plaza, a 44,091-square-foot, Class A medical office building in San Diego’s Del Mar Heights/Carmel Valley submarket sold for $28.5 million. Completed in 2005, the two-story building is 92% leased and anchored by Fresenius Medical Care.
HFF marketed the property on behalf of the seller, Torrey Hills MOB, LLC, and procured the buyer, Torrey Pines Enterprises, LLC. Additionally, HFF worked on behalf of the buyer in arranging a joint venture with an institutional equity investor and negotiating the assumption and modification of an existing life insurance company loan.
Torrey Hills Medical Plaza is located on a 2.59-acre site at 4765 Carmel Mountain Rd., within the Von’s-anchored Torrey Hills Center. The location is accessible to the 5 and 805 freeways, as well as US Route 56.
HFF’s Evan Kovac, Nick Frasco, Andrew Milne and Trent Jemmett, along with JLL’s Paul Braun and Chris Ross, represented the seller. HFF’s Zack Holderman handled the JV and loan assumption and modification.
For comments, questions or concerns, please contact Dennis Kaiser